There are many determining factors you need to calculate in order to arrive at the asking price's true cap rate and what cap rate it is currently worth.

It is the proper calculation of the expenses to arrive at a true NOI that is often done incorrectly.

I always ask the seller how they arrived at their number.

(incidentally, in the Hospitality Manager there is an option to only allow access to the address 30 days before the reservation begins, or 14, or 7, which I assume is to prevent people from booking, getting the address info, and then cancelling)I too send the address and directions a couple of days before they arrive so there's no confusion about it.

In order to arrive at that total, you would need to contribute $3200 extra per month towards the principle. 

Ka-ching, ka-ching, ka-ching.Upon arriving at my destination I pull out the little logbook I keep in my car and note my mileage.

Usually the time starts when the letter arrives.

My goal is to get the property up and running as fast as possible and because I am setting it all up myself, I don't want to waste time waiting for items to arrive or driving around looking for items to furnish with.In combination with that, I would start building your local team and looking for cleaners.

My cleaner lets me know asap if there is any issues she sees.If you feel you have to do post changeover inspections prior to the next guest arriving, you have the wrong cleaners.

Looking to hear some best practices on dealing with guests who want refunds even with a signed policy stating a certain refund % amount within a period of time prior to arrival.