I've been trying not to reply to so many posts about this, but also need to watch out for rookies to save them from losses.The other thing I don't like is that so many folks interested in this usually have very little extra capital and could lose some or all of their "extra" capital on a bad wholesale deal if they made one mistake. 

Setting up direct bookings is a great way to save on fees, but you’re right—it requires extra effort to ensure everything runs smoothly.For vetting guests, start by asking a few questions when they inquire, like the purpose of their stay, how many people will be there, and if they’ve stayed in short-term rentals before.

HELOC: The Best Tool for Smart InvestorsWhy It Works:Pay interest only when you use it.Got extra cash?

I'd love to get takes from folks who have been around the investing & development scene longer than me - The city of Denver announced yesterday that the mayor has coordinated a land swap with a private developer. 

Some folks DO try make it a scam - it's not in and of itself. 

Personally, I bought a 3 bed single family home soon after starting my job and had two friends from college rent which covered my mortgage plus a little extra.

I let VRBO and AirBNB handle that.Bottom line is you are taking a risk every time you allow folks to use the house.

Hey Folks!

That is a raw deal, sorry you are going through this.Do you have signed leases in place for all these folks?

This doesn't come cheap--these folks were making high six to seven figures depending on volume.We focused on lending to professional real estate investors--so our customers were frequent repeat borrowers.