But a couple of years ago (2020) we refi'd the houses we've had a long time, bought another and remodeled it with the intention of making it an airbnb ----and the time and effort put into that remodel made me question what I was doing with these houses. 

Roughly a 1300 profit after taxes etc etc. last year was a down year due to evictions and remodeling. this home is on a conventional loan.

I would be leery of going this route unless you are very confident of your numbers.good luck  Also just adding to the last post, I did some compare on the quality of the other closed units, might was much better since it is just remodeled, but still they do get more tractions than I do, SO I was thinking it is marketing issue.

@Luke Bricca  I am or was a GC and can see about 20k coming into a simple remodeling project.

One had been rented by the same couple for 7 years, one needed to be cleaned and some repairs, and the other had been in the middle of a remodel when the original owner died and his 4 daughters who couldn't agree on what day of the week it was decided to sell.Based on the square footage (2024) alone, I got a great deal. 85,500 with 10% down and 10% interest.

No formula can be accurate across the board because even “cookie cutter” properties next store to each other differ as to view, location to the street, topography of the land, lot size, physical condition of the property, past remodeling, quality of the mechanical systems, sunlight, utility bills, past use, etc.  

So, I tried to help the situation by getting a contractor to go replace the floor and remodel the bathroom so that the house is nicer for her.

I'm sure your parents know what houses go for around them, is 413k for a new or freshly remodeled attainable there?

Because of this, unsophisticated appraisers reduce as-is value more than they should.2nd, the appraiser estimates the increase of value, based on your remodel plan.

We added value by re-doing the whole house, installed vinyl floorings, rebuilt 2 and a half bathrooms, re-painted the whole house, replaced all the hardware in the house, installed new lighting, ceiling fans, re-painted the kitchen, and completely remodeled the upstairs.