These investment properties are valued at a CAP rate which is the NOI divided by CAP% = Asking price.

I suspect part of the reason might be because I have a no-alcohol policy for my property, which I understand might draw a lot of people away to some extent.

You'll need money for: closing costs, down payment (if any), operating capital to get the construction/rehab started (most HMLs reimburse you in draws for the work completed), along with some liquid reserves on top of that.

I highly recommend an attorney to draw one up as each state and each property can have unique issues. 

Do you have any idea the energy draw of USA?

As a savings of a few thousand dollars on furniture, could determine if your occupancy rate is 65% versus 70%...If the revenue is $50,000/yr that's $2,500 in one year (which could be the breakeven for that specific line-item expense).To determine you total breakeven point occupancy rate, and not just related to the furniture, take your operating expenses plus your debt service and divide it by your effective gross income.

The draw to Airbnb Arbitrage is due to not a lot of capital to start with.

In terms of the permitting process, an architect that can self certified drawings would reduce the wait time to receive the permit. 

Lenders may count eligible assets as additional qualifying income by dividing eligible assets by 60.🔹 Example in Action:Rental income: $9,000PITI: $9,500 → DSCR <1 (not qualifying)Using $63,000 in assets → Adds $1,045 in incomeNew DSCR >1 → Higher LTV (80% instead of 75%)🔹 Why This Matters:✅ Helps investors qualify for better financing✅ Increases borrowing power and flexibility✅ Allows you to scale your portfolio fasterUnderstanding financing tools like this can be a game-changer for investors looking to maximize opportunities.

The advantage with the bank was minimal closing costs, a good interest rate, and a draw system so I could get funding as I completed each rental unit.