(And we did have occasional issues during the 4 years,  payments got missed about once a year and I had to follow up.)  

He speaks at local REIA stuff out this way occasionally.

You may have the occasional renter that feels it is worth the extra money, but they will be few and far between.

To do this you will need four things: 1) a strong test ad in due diligence to prove that the demand is there 2) a dealer's license and an agreement to participate in the 21st Morgage's CASH program 3) the capital to make the necessary renovations to sell the home and 4) the knowledge and the ability to advertise, show and sell homes.There's no reason to fear the occasional loss of existing residents as long as you are prepared to replace them.

., huge underage prom party).It doesn’t happen often, but occasionally guests refuse to provide IDs to my VAs (or the IDs show that they’re underage).

I'm certainly not the expert in "Subject To" deals, but I foresee you expending tons of time and effort for an occasional return. 

On sale occasionally <$100. 

I think its fair to say you'll make considerably more money on the short-term/AirBnB route, but also face significantly more work/time.Instead of simply screening tenants and the occasional repair you're looking at calls at all hours of the night, lots of wear and tear in the turnover etc - but the number can still work out in favor if you have the time and/or interest.It's been great for us and we found that by outfitting the place high end and sticking out as one of the nicest places in town you'll also get good quality guests that you don't have to worry too much about (we've had only a couple bad guests in several years).Don't forget to calculate the furnishing costs into the AirBnB route, but you can also convert back to long term rentals if you don't enjoy it and the furnishings may simply make the long-term more valuable as well.

I'm competent with Excel and occasionally build worksheets to model an investment, but the speed and simplicity of a basic financial calculator can't be beaten. 

I tried to build it to a meaningful level for over 2 years, but couldn't get the membership going.These days we do the occasional beer summit here in Plymouth instead.