That would be enlightening about the scale of your operation for all the people who'd like to replicate it.

They can simply replicate exactly what you did in the first place.

This is the kind of style you need to replicate to find success in the Short Term Rental world. 

Scale with Franchising or Licensing (Optional)If your business model proves highly successful and replicable, consider franchising or licensing as a way to scale rapidly.

I didn't know what I didn't know but I knew that if I was able to join with a group of high-performers who have a proven track record and top systems in place I would be able to replicate what they have done and expedite my business. 

Self storage can be great, but super easy to replicate down the street, so tends to get overbuilt.How about looking for an existing rv park?

What you call guaranteed income is what I call a lot of stress and governmental requirements to get the same or less rent than if you did a good job finding a property and put it up for rent on the open market.Section 8 rentals are for investors who want to keep replicating that strategy in the same area so they know all the regulations and all the players.

As a first time investor, I'm thinking to replicate those existing houses (with little bit of my touch) but wanted to ask what would be the pros and cons in terms of competing with existing STR's in the community?

Using the enemy method, you can very quickly identify the top properties in your target market and then replicate if not improving upon their listing when you go live!

Cost approach would be what it's costs to replicate it, however, cost approach isn't what I think you'd be looking for.