Operating Expenses:Consider all the costs of running a B&B and event venue—staffing, cleaning, maintenance, utilities, insurance, marketing, and supplies.

Would it be cheaper to buy supplies and pay contractor hourly or allow contractor to do it all and pay large lump sum ? 

The simple answer is highly accurate..A recent CBRE report on the accuracy of AirDNA date found it to be 97.5% accurate in reporting active supply of vacation rentals.

I would say 30k would be a good amount.You could spend alot more or substantial less.You can save some money by buying quality used furniture off Craigslist or FB marketplace. 

Here are my thoughts:- MTR and STR would require furniture so I do need to pick a lane (LTR or MTR/STR).- We currently have STR and LTR in our portfolio so I'd like to try MTR.- We could furnish it and go for STR/MTR simultaneously, but we get occupancy near end of October, which isn't the best time for STR.

During our monthly market study, Marion Oaks (Ocala) consistently stands out as the area with the highest demand for new construction housing.Below are some of the markets we analyze, along with their average months of housing supply: - Palm Bay: 3.4 months - North Port: 4 months - Port Charlotte: 5.4 months - Marion Oaks: 2.2 months - Silver Springs: 2.8 monthsStudy Criteria: Single-Family Homes Built in 2022 or later, 1400-2400 sqft.

Forget the opinions, look at the supply and demand in your area.

Simon, Here in FL its much easier for us because we know a few things:1) The U.S. is severely under supplied in housing units. 2) Tons of people are moving to Florida everyday which makes point #1 even more drastic for us. 3) Interest rates are preventing people from selling their homes, because then they would need to re-trade for a higher interest rate buying a new home, which is creating even more housing demand.So with this knowledge, now we move to more market specific data, which is what I talk about in the original post.If a market shows decent growth and demand, then it all boils down to the numbers.Its important not to forget about any costs though.

.- Rental Opportunities: With a rental vacancy rate of 6.0%, there's a reasonable balance between supply and demand in the rental market.

Check the supply line to the toilet & the supply lines under the sink for potential culprits.