I think the safest approach would be offering the package at a certain price and excluding the alcohol.

It's all in how conservative you are in your approach to underwriting your deals.Even when a Seller says they've improved the property, the tenants are still tenants and do damage to brand new improved units. 

While we are not immune to market shifts, we typically don't see huge bubble bursts. 

If the market is tough, I reduce the rent rate over the full 12-month term.

But that's just me, maybe your market can tolerate higher nightly rates.....I agree with Bruce.

I'm a guy approaching middle-age, living in Chicago.

With rates high, I don't see much changing in the market as buyers struggle to afford a mortgage. 

Is this a good approach?

After talking to my guests and understanding their needs, I shifted my approach.

Personally, I do not like any strategy or approach that aims to benefit from the misfortune of others.