It wasn’t until I decided to stop that nonsense and model what they were doing that I was able to start buying houses again.

Not sure about the legal aspect, however, I see a slightly different model of managing reservations and cleaning personnel. - Find a person, who lives nearby, willing to come an clean the apartment on demand for a fee.- Set up a lockbox to allow guests to check-in at any time (early/late arrivals are quite common, I'm sure you are aware of it)- Hire a virtual assistant, who can help you professionally manage all the incoming requests, reservations, and overall communication with guests.Feel free to reach out to me or visit our page (revolvio.com) if you need any help with VA and Airbnb management.

I greatly appreciate you sharing your model.

Duncan,We currently live in a highrise in downtown Seattle, so completely understand the model of renting something to live in and buying rentals elsewhere. 

Again, if you are a flipper then our model is get in, get out and don't be greedy.

But, as in your case, if there are no recent similar sales, I would look at the available sales and pick those which represent my Subject's important specific characteristic, in order to essentially build a model of the Subject. 

Hey guys I just spent the last several days creating a financial model in excel.

I suppose I'm scratching my head on why this business/fee model hasn't taken off more.

The Vernon Hill model is very much centered around customer-service.And I've updated my profile with my current location of West Orange, NJ.

Interest rate hikes are shrinking the pool of buyers in that market however.My question was in the markets we are very familiar with, why would people be clamoring to buy a property that is in the B or C area (working class), has little room to drive rents up (plenty of other options) and is negative from day #1 if the sole purpose of the property is rental (multi family).Will listen to your podcast but this was more of a curiosity question as we have our criteria that we stick to and the model seems to have worked.