So thats the other side of the coin.. by the time you find another one you will spend another inspection another apprasial fee another flight more hotel more meals out etc etc..

Another tip would be to put your own scope of work together as contractors will also charge to do that.

Currently, the City generally categorizes short-term rentals, such as Airbnb or Vrbo, as hotel, motel, or bed and breakfast uses because the lease period is less than 30 days.

I am looking for tips on structuring a rent to own deal.  

I've had to get rid 3 people for non-payment this year but in my area rooming houses are run like a hotel so we can just tell them to leave and/or call the police if they don't want to go nicely.

Are you competing with Hotels? 

No one wants a hotel next door. 

Any tips or advice you can share would be greatly appreciated!

Not enough hotels to hold everyone.

And while travel is going to be expensive for any property, if you only have one in a market, the concept is the same with less rent: that $2,000 flight/hotel/rental car food for a one night visit, ties up a lot more of your gross when that gross is much lower.