This is minor distinction but I want to make sure I'm calculating this correctly.I know I could add a new row that would hold the total cash flow (eg D4=D1+D3) and use D4 in the IRR calculation instead, but I feel like there should be a cleaner way.

All different flavors of ice cream out there.I have seen some buy to hold and said they would never sell but they had a compelling reason like an offer that came in (knocked their socks off) it was so good or they wanted to recapitalize for more existing property acquisitions or new development projects.If you study business it is mainly about PERCEPTION and MARKETING.

JD Guther, I appropriate the reminder and noted intricacies and multi-flavored approaches that there will be.

Although if all your looking for is maybe one or two more units the simpler method maybe to just try it on one of your properties so you get a flavor for what it is like before you commit your whole portfolio to being refinanced. 

Curious if anyone has deployed this strategy where you list the same property as two distinct listings on a platform like Airbnb or VRBO?

The goal with this is to really test it so you are crystal clear on the number of calls you get and the flavor of those calls. 

I just want to make sure I understand the distinction you are drawing.

On the contrary, they have distinct set of policies that clearly tell the applicant "these steps must be followed and you must be approved BEFORE the animal can move in".5) They acknowledge the difference between an animal the resident has been living with or already has, and an unknown animal they are planning on buying. 

Here's where the distinction is: After 5 years you sell the property with the 5 year old fence.

The Tiny Homes have two distinct advantages over mobile homes.