Model the portfolio over time with projections for appreciation, rent increases etc., don't assume that paying off mortgages is the best way to generate cash flow.

That In my opinion is the best thing for $40K of investment. 3) REIT can come in many flavors and I would be very careful about them considering huge commercial big box stores are taking it on the nose right now and many REITs are heavily vested in that type of asset.

Do you have an idea what model you want to pursue?

Simpler model with more reliable b2b transactions.

The regulations definitely discourage that type of business model (like Westminster and Longmont that only allow you to have one dedicated STR, and towns with caps on them etc.). 

We want to give owners some flexibility and a good experience working with us, but also, contracts are the assets in this business model i.e. if you don’t have some teeth in the language, if/when you try and sell your company later it won’t be worth much.The 60-90 notice period seems to be a good balance.

For anyone whose interested, here's a link to a recent paper that compares one flavor of AOL to traditional title insurance, prepared for the MBA. 

Houses that need less than less than $30,000 worth work so not something that is not too old.I am trying to do the same model as Dr.

I own 3 UPS Stores across two cities, in a full-franchise model.

But find a rental model that feels comfortable to you (house-hacking, it seems?)