On the surface that sounds fine except with VRBO I did not where I have access to their credit card to charge them directly but rather I could submit an extra charge and it's up to the guest if they pay or not.

This was my first property, and while it's been a great learning experience, I made several mistakes along the way—ranging from choosing a realtor who was more focused on closing the deal than finding the right house to having a poor inspection and overlooking issues hidden beneath the surface (literally).

But your main killers; road access, water access, fire hydrants, flood plain, storm sewers, Storm ponds, road surface requirements, etc. 

With the bank distress that's likely about to surface, we'll prob see a lot more of this soon.

I think regionally things may be different as I am yet to find the issue NOT surface.  

It looks like a great idea on the surface but the numbers don't stack up from a risk/return point of view as far as I'm concerned (it could be different for you depending on your return expectations).

Our biggest climate risks in central Texas are typically wind and hail, so anything of concern regarding the roof could get an applicant declined including trees too close to the roof surface, roof over 10 years old, etc.

Combined that can cost $50k+ which they may not want to pay nor their is the possibility they would not they pass the DD report.Nothing wrong with raising money in this fashion (FB or online ads), many do it and are great sponsors. 

I'm really old fashioned and have been using spreadsheets for years.

Thanks, Kwanza Contract grade furniture is designed to sturdier while still being fashionable.