B/c they are so small, you do some very luxurious designs and finishing and charge a premium for the space.  

I did not have the luxury of buying regular single family homes with little profit for many years and waiting for them to be paid off.So I came up with a better way.  

When we find them, we want to keep them.If we were renting luxury apartments and homes in the A market to A tenants, as @Elizabeth Colegrove is doing, the market response would be different.  

Since we had built it out ourselves we had the luxury of making it handicap accessible all on one level. 

In CA anyway, there is a huge luxury tax on short term rentals, less than 30 days. 

To a certain extent, I recognize that this can be a function of the environment of the rental and the market for which you're aiming - obviously a luxury unit will not have a $350 refrigerator.

I see your point, but I don't have (or want) luxury of waiting 5 weeks without a non-refundable deposit to cover my time.

And if the tenant was not on a lease, and the landlord paid the tax for the first 6 months, the landlord doesn't have pay the tax after the tenants have stayed for 6 months and going forward from there.In CA, these taxes only apply to hotels or extended stays, and if the person stays over 30 days, they don't have to pay the luxury tax.So, to avoid the tax in FL, make your lease 6 months, going to month-to-month after that.

On the one hand, you have the market for properties with a Western-style level of luxury in which properties generally trade in US dollars and the main buyers are wealthy Mexican and foreigners.

Had a guy do this on a friend's luxury home that was headed to foreclosure.