I would imagine that the hotel marks up their rates to use airbnb a little to offset their service fees, so the net is pretty close to what you would expect.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

When you add on your new lease fees, lock box fees, inspection fees etc. the percentage creeps far higher.

For me just too much work.. as I stated its a specialty niche.. plus putting the deals together can run 100 to 250k in consultant fees up front. 

HELOCs are usually variable rate and there may be yearly fees associated with maintaining the HELOC.

Account for all costs, including closing fees, holding costs, and repairs.

Is saving the fee a PM charges worth the potential thousands in cost and headaches?

What is the most important factors when considering passive (or even non-passive) real estate opportunities?

The AMC charges a fee on top of the appraisers.

Most folks are charging 10% of the rental rate for monthly PM fees. 1 months rent for a leasing fee and couple hundred for a lease renewal.