Evidently spreadsheets aren't sexy, but his business is one I'd love to model, and it's refreshing to hear from someone whose philosophy runs contrary to the consumerist junk they push on HGTV.

Depending on the rent to on model they have in place you may have a good sales pitch for seller financing/installment sale.

But I am also witnessing as well as organizing a newer more scalable model providing for a more cloud-based, remote, less-than-full service--model that is appealing for a large amount of investors and property owners who are interested in receiving many of the traditional services (rent collection, bookkeeping, leasing, noticing, maintenance coordination, answering phones, etc.) but who would be willing to pay about 1/2 the monthly fee in exchange for participating by physically being present to allow access, showings, servicing notices, etc.

You haven’t defined your business model, therefore you don’t know how to decide to buy a property or not.

My guessesModel - model unit so it is not making any rent money but is still listed under gross potential rent, so they have to subtract for itMove-in Concessions - one time move-in specials, stuff like 1st month free or no admin fee, etcPreferred Tenant - not exactly sure but I assume some sort of lease renewal specialResident Relations - my guess would be to appease a pissed off tenant... a one time $100 for something that went wrong

Have you modeled out that scenario against one where your capital is earning a current return?

This has the best pictorial (for a quick visual assessment) of the model being recalled. 

She has been a model tenant other than this.

If laws change, if Airbnb dies, if you are just over STR... what would this property do as a LTR, what’s the potential resale value, what can you walk away with if you had to change your business model.

After speaking with several turn-key providers, I'm not convinced the model is financially compelling.