The “grass is greener” psychology is strong on BP and the irony can be rich at times.

Have you over or under improved the property based on the comps and immediate area? 

He should retract it and go back to the $150 to send a strong message that trying to take advantage of his generosity will not be rewarded.He obviously has handled the situation very poorly by making a offer in the first place but now he must take back control of the situation and make it very clear that it is $150 or nothing and they can pack their bags.

Based on our current numbers the average vacancy will sit for 2+ months to get a qualified tenant and another 2 - 4 weeks for them to move in.What Have We Been Doing1.

It is just a loan modification based on the market value of the house.

You can always sell without an agent, but it could cost you more money and more importantly, money in the long run..think of it like this…maybe a strong buyers broker would’ve urged more caution with the initial purchase? 

First - realize that AirBNB usually makes a lot more money than a long term rental (based on having a good occupancy rate <# of days rented per month>) ... but that all comes with the responsibility of continuous turn-over - where you likely need a cleaning service, etc as a support staff - unless you are going to do that yourself.Second - When looking at renters - the reason many renters rent is that they DO have poor credit scores.  

Thank you to everyone who responded, I'll be reaching out to shop rates and see what options are available based off my personal situation.What does the DSCR rates look like in comparison to conventional rates, as higher prices and rates will impact margins.

Those figures are based on market data and info I received from a property manager who toured the property.

I strongly agree with Eric.