@Russell Brazil  I have looked all over Mass, but the prices vary wildly, dropping quite a bit as you look west of I-90.  

A few new subdivisions or not and these numbers could swing wildly.  

To wildly stereotype, I think the percentage of VRBO users who are more responsible and respectful is higher.

It seems like I'm guessing pretty wildly in many of these practice deals, so I can never trust the output the spreadsheet provides. 

Like yours, my time in has been a wild ride. 

Obviously there's a grass roots component here (along with the hotel lobbyist's obviously).I say this, in this tread specifically, not to play chicken little but to make potential short term rental investors in the Tucson, Phoenix, Scottsdale, Flagstaff and other communities aware of the fact that Arizona will not always be the "Airbnb Wild West" and to be prepared for the eventuality of STR regulations being imposed here, as is happening all over the country.Now, most of the regulations that I've seen that have been imposed have a grandfather component so getting in ahead of the "smack down" could stand to secure the value of your rental, but this has not always been the case, some places simply shut it down (Which I don't think AZ would do, if anything they'll just impose a permitting requirement as it shows good faith to the lobbyist's AND increases tax income).Also, government regulation isn't ALL bad, as it slows the influx of competition in an area, helping to keep prices from bottoming out.I say all that to say this.

If the loan officer knows what they're doing (meaning they collect the necessary documents and they do a complete application on the front end and there are no wild cards like the appraiser finds an underground storage tank or mold or any other crazy thing that can come up to bite you) FHA can close in 3 weeks. 

How did you know it was a great property with all the comps and everything looked great, but be wildly in error on the value?

@Levi McDaniel, What is left to say other than Congrats and welcome to the wild world of REI. 

When Denver was the wild west of Airbnb years ago, I thought I'd only do it at one place.