I think you're also end up paying for amenities that you don't get the return on....for example pool, yard, fitness.There's also more chance for things to go wrong. 

While the cash flow seems ok, i'm worried when it comes time to sell, it wouldn't make sense because if banks won't lend on it, then you loose a HUGE buyer pool. 

If most owner occupied borrowers are balking, slimming the pool of buyers, and condo financing is tough because of occupancy ratio, then you would hoping your getting this under value of similar size units in the area.

We did have an open window during a heavy rain storm & the water, although pooled on the flooring for several hours, has yet to cause any buckling etc.

You probably have some fine tenants in your pool.  

. ;)So here's my question; if we rent it out, we have a 24 foot above ground pool and Jacuzzi in the backyard.

They have pools, gyms, dog parks and a "study area" but they don't have jungle gyms, slides etc.

Based on tor REA experience do SFH's with a pool provide a decent return in the Airbnb market?   

Being above market will get you a much smaller pool.  

Pros:Strong cash flowMajor affordable housing shortage in the countryBarrier to entry - zoning prohibits new parksPride of ownership - the residents own the homeLower operating costs - the residents own the homeLower touch - the residents own the homeSticky residents - costly to move a homeEasy to raise rents - costly to move a homeRecession resistant asset class - affordable rentLarge private equity funds are entering the space - drive prices upMom & pop ownership - opportunities to improve NOI and valueLower entry cost per door - less capital neededCons:Not sexy - smaller resale pool (but that's changing)Stigma - some counties try to stop operations (poorly operated parks, criminal activity)Stigma - some people don't want to live in oneLower credit quality residentLess appreciation potential, unless forcedNiche investment - helps to have scale to properly operateMany banks don't understand it - tougher to financeOlder assets in many cases