Direct bookings results in higher revenue.  

I also agree that RE appreciation is unlikely to match the last dozen years, but you never know.Where I am unsure we agree is that paying $450k to improve the cash flow ~$3k (your numbers but I expect my delta wold be similar meaning both my cash flow estimates would be worse than yours but both would be worse by the same amount not affecting the difference) makes sense especially if the cost of having the extra $450k is only 6% rate which is historically simple to beat via numerous investment options and hopefully no one is investing in RE for an expected of 6%.  

[And it's not just VRBO who will see the results of that dynamic pricing as price gouging. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

Kholer 4.25" knap, lets max water flow in 2 seconds, result it never gets clogged, my favorite, they a re around $100 at the Home Depot 

@Philip Beckwith,  Since this last post is only 5 months old and you are in Grand Rapids like me, have you had any follow up/results / success since this last post reply? 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Not likely to produce the result you think you'll get.

So, my first caution is it would be healthy not to expect similar results on certain real property investments/deals in the current and near future cycles.That said, there are multiple considerations and clarity needed, before I would act on any investments with your equity.