Obviously this may vary by market but we would not accept partial payments as it does make things more challenging legally if you need to evict them.

We talked about the pros and cons and he said I had to meet his partner, Ron who is a part owner in a CrossFit gym and sits on the board of a sports marketing and gaming company.

Refi after construction.These numbers consider only the portion of costs of the HEL attributable to the land purchase, not the payoff of the HELOC (which we took out to buy the Seaside condo).Cash In:                     $66,166 (Cash, 1 year of debt service of HEL, debt service of const. loan, furnishing)Amount Financed:      $548,000 (home equity loan + construction loan + closing costs)Total Cost of build:     $614,166ARV:                               $850,000 (or rather "after construction value")Refi                                $637,500 (75% of value + closing costs)                                        Cash Out                       $89,500New payment             $4500/month (54,000/year)Estimated Cash Flow (pre-tax numbers, so actual mileage may vary)airBNB year 1:            $70,000     (net income $16,000)airBNB year 2:            $100,000   (net income $46,000)airBNB year3+:           $120,000   (net income $66,000)ROI (construction year):    0ROI Year 1 of STR:              24.2% ROI Year 2 of STR:              69.5% ROI Year 3+ of STR:            99.7% Did I calculate these ROI numbers right? 

@Jake Baker Love the approach of measuring the total offers that you send, if you know your strategy most of the time it is a numbers game no matter the condition of the market. 

Is it over-blown or game changing?

That said, you deserve a management team that treats your properties with the same level of care and attention as they would for larger clientsI’ve heard from other investors that finding a great PM company can be a game-changer.

No heart shaped tubs are arcade games in this one. 

The property is located in a mid-size city with several attractions nearby.I understand that management fees can vary by location, but this property management company charges 20%.

I agree with you and @Doug Smith because I been laughed away enough to realize that aint the game anymore. 

Starting out, single-family was my go-to—easier to manage and a great intro to the game.