Well thought out analysis to reach a conclusion?  

Yup, rents in SF are definitely cooling off... at least a little... but I'd be hesitant to draw any conclusions in other areas that weren't similarly overheated.

I don't really need to win or lose on this particular house, I do need to see it to some conclusion though. 

Keep your powder dry and wait for the next correction... that is the only conclusion I draw after being on BP for 6 months now...... especially if you are playing C MFH...Forget about MFH that is 100% occupancy asking 6 cap.... wait for 50% occupancy that you can get 17cap

This is the sort of thing to note if you're buying small buildings in say Lincoln Park and expecting rents to go up each year - it's not a foregone conclusion. 

I consider what you experienced as a shortcut to this conclusion.

I don't know that I would draw any conclusions about Airbnb popularity just yet, lol.

Ive come to the conclusion that foreclosure auctions are more beneficial for fix and flips than for buy and hold strategies because you have to buy at a lot less to renovate and get good cash flow where as you can flip a property bought on slimmer margins and still profit.

In any case, I do like your idea of cheap labor to do the finishing touches because I have also come to the same conclusion that there will always be something off. 

I have tried to read as much as possible and finally came to the conclusion that if this was being done by a single person it makes no sense, but there seemed to be some question as to if a group of people were in the LLC if this does present a good path forward.Is there anyone that might be able to share their experiences, and maybe present a good way out?