Academically, I agree with basically exactly what@Zachary Bohn said if the latter.It's important to address these questions fully with pros because these matters can affect the liability protections of your LLC.

One set of students for academic year and then since we are at the beach there is a summer market of weekly non-students rentals, much like your Airnb idea.

However, the student tenants you want rented their accommodations for the 2017/2018 academic year in March - May 2017.If you can afford to carry the property while you hunt for the right tenants, then it may still be worth pursuing ... however, doing this will lower your returns.

This thread was initiated not to agree on the best return metric but as an academic exercise to enable me to understand why the annualized return (IRR) goes down over time for a subject property I was analyzing. @ Stephen Greenway correctly explained that the decreasing irr comes from holding the property and averaging more modest and sustainable cash flow returns over the long haul bringing down the initial "flip" return. 

Well, speaking more as an academic than as the newbie investor that I am, I am not sure anybody really thinks Newark is "a bomb waiting to explode."

You will find that the academic concept of RE investing is a bit differant than the real world of actually making money as a RE investor. 

In some states and areas, much less.You should be dealing with FMV and taking condition factors into consideration, not assessed value.Mind you I speak from an academic point of view more so than from actual hands on experience.I am learning, have learned much but have so much more to learn.

This may seem like a trivial, or academic nitpick, but I can assure you this is of prime importance to how I structure my database.

Congratulations on your Academic achievements. 1.

I catapulted that academic success into a job with one a top global Pharmaceutical company.