Of course in my calculation WHEN they stay is actually more important than how many nights they stay.

I wouldn't say there's been too much to overcome, just taking it slow and fixing up as money comes in!

They will be well worth the money spent.

This is where the big money is I have heard if you're willing to fork out more money and accept a higher level of risk.

Avoid properties on main streets (traffic noise, avoid homes near freeways (smog/traffic noise), avoid homes without garages if most other homes have garages, avoid being in airport flight paths, avoid over building or over rehabbing for the area comps, know how to properly and accurately estimate ARv and rehab costs, and have money lined up in advance.

This is how it is supposed to be handled but some lenders have overlays or loan officers are not aware of the actual guide lines or rules depending on their organization or who they are selling the loan to in the correspondence channel.I have come accross this several times you simply make the underwriter aware and in some cases the agents and appraiser are informed as well in case there is a need for an outside LOE letter of explanation. 

Almost zero positive feedback actually so that really answers my original question. 

Thanks, John, I actually joined UpstateCreia last year, but haven't been really active yet, I am signed up for the September monthly meeting, so maybe I will see you there!

I would not trust an average number.This will be very specific to your management, your lease, your leased property, the area etc.Some people have made money, but I've not heard much about arbitrage lately, and some have lost money and  not honored their lease.In general this is just a job and not an investment, so it's widely discouraged in this forum.

If that is accurate, I'd suggest you invest that money into education.