Cross reference these with projections from a local propriety manager and/or your own protected daily, occupancy and operational costs. 6.

Late fee is considered reasonable if it is not more than 12% of the rent for the rental period under the lease for a dwelling located in a structure that contains not more than four dwelling units or 10% of the amount of rent for the rental period under the lease for a dwelling located in a structure that contains more than four dwelling units or the late fee is more than the applicable amount but not more than uncertain damages to the landlord related to the late payment of rent, including direct or indirect expenses, direct or indirect costs, or overhead associated with the collection of late payment.A late fee may include an initial fee and a daily fee for each day any portion of the tenant's rent continues to remain unpaid, and the combined fees are considered a single late fee.

Otherwise, you'd need to based the financing based off of the purchase price (possibly plus renovation).Since Conventional rates change daily and the rates have jumped recently, DSCR rates actually are in similar range at the moment.

Indeed, keeping the lights on is a big job, given that we are responsible for the well-being of over 1,600 roommates on a daily basis!

I felt that my sales rep only really knew 90% of the product but I feel the knowledge gap is actual daily use in the product.  

Then just take that polished-sales comps function, and run every new listing in your area through it, and you get what I called the Daily Spread Analyzer in my Page 1 reply.As for how to do CMA/Comps, it's as easy as pulling up the neighborhood on RedFin (ideally 0.25-0.75mi max), adding filters to match similar BR/BTH/SF Ranges, and then sort by Highest Price to Lowest Price.

Personally, I stay away from the mainstream trends where everyone who is priced out of traditional long term rentals are now trying to rent out a room or a whole house on the daily. 

I use Excel daily and am getting more exposure to power query.

Airdna shows the avg. daily rate around $400, which sounds really good to me and occupancy at 56%.

Local and state laws are changing on the daily so I think that the right Property Manager really helps with that but hiring a PM or self managing is always a personal call.