.: Quote from @Matthew Irish-Jones: I agree to an extent that equity sitting in a property is lost equity.  

For us it varies by property - smaller more urban units can be 80,90% Airbnb whereas larger beach houses can be as low as 30% Airbnb but company wide on 65 or so doors last I checked was 40% Airbnb, 30% VRBO, 30% Other (Direct, Marriott, Google, Booking.com, Jetblue/Allegiant Airlines, others).

You grow wide, before you grow deep. 

I am not familiar with the building department in Philly, but here in Chicago there is no way that would be "proper" way of going about a renovation of that extent. 

This house was very nice and clean (build later 1980) My tenant recently claimed there is mold on 1fl (it is like basement as there is no window, it is next to garage) When i see, the mold is not only one area but it seems widely spread on the ground floor (laundry room, wall, celiling etc) Since it is OOO investment, it is not easy to deal with mold issue.

I would connect with a broker who can help you compare terms across a wide variety of lenders and explain the differences in underwriting, rates, fees, etc.

We have a wide network of investors worldwide, but our business operations happen right here in metro Detroit.

This list has a wide range of use cases.

It has done well, but worse than every other property in my portfolio and by a wide margin.  

To a certain extent, it's not worth it to work on files with tough conditions without a bottom-line base origination fee.