The application outlines the basic requirements at least.  

This is one of many reasons why NOI divided by cap rate does not really work.Typically I am modeling various capex spending across the years, i.e. the property condition assessment outlines $200k of issues, $100k is needed immediately, $50k yr 2 and $50k yr 3. 

What I outlined above seems like your core overall goal, and core what must be overcome to get what you want.Now what you need to do is make a workable plan to get it.You don't need "The Best Plan" just a plan that seems realistically workable, because like everything else in life it will probably be a fluid procedure (vs a static plan) to get what you want.A workable plan might be to figure out how much down payment and closing cost you will need to buy property number 1, and how much equity vs bank loan you will need to hit your monthly income goals vs what you have to put down on it as a minimum.

I can say from experience that finding a lender with the terms you outlined will be very hard. 

The responsibilities you outlined are mainly what AirBnB itself highlights as possible co-host duties.

Truly appreciate the outline.

And thank you for outlining a view point opposite everyone so that I sort of see both sides of the coin.  

Not sure how to go about doing that for a piece of land - probably the same steps i've outlined above?

Thanks for outlining good expected target range as well!

If this is real property , a seller's disclosure is required which you can clearly outline the issues.