On paper returns, look excellent but when you put it into practice, you don't seem to get the same kinds of returns. 

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

The idea here being you buy a 3-4 bedroom house near your practice facilities--and renting the extra rooms to your teammates. 

Is this a predatory practice by PMs?

Sure, buyer beware (I'll never buy a home sight unseen again), but terrible deceptive business practices and I can’t get the rent they estimated for this unit with it being only a 1 bedroom without a shower.After the sale, Ready REI was very slow on getting quotes and the few minor repairs done that we had agreed to.

The problem with that is this:- It just doesn't make economical or practical sense for the newest housing to be the cheapest. 

We both know the numbers you used (mostly that 1000% return number) aren't practical, but humoring them paints an interesting picture about the financial advantage of leverage.

Now I aim for bigger and better, I want to buy a home FOR airbnb but I still want to simultaneously still do airbnb arbitrage, the benefits are just too great at the moment and to be honest a lot of the money profit wise I just have been utilizing to put back into the business and further expanding, paying off business line of credit and such.

membership is something like APPL which is just non regulated group of private investors working on best practices but there is no authority behind them like  state license or NMLS registration has ..

Starting with three T-12s from properties of a similar size and market is a fantastic strategy, and I’ll definitely take your suggestion of setting aside time to really dig into the details.Thank you for the encouragement and practical tips—it’s advice I’ll take to heart as I move forward.