We considered Brunswick and Bath and spoke with a few agents and property managers up that way... the consensus is that demand is outstripping supply, so the market is investment friendly. 

Office supplies (prices regularly beat quill).

If the supply of str's diminishes then revenue increases... 

@Sean D it's all about supply and demand. 

Granted with a HELOC I can tap into more equity but comes with more risk of the variable rate.

The problem as I see it is there are too many variables to quantify in an interview.

And finally, while the soil system is the Earths natural water filter, we do not yet know the full impact - we don't know how long the chemicals will take to hit the water supply in all areas and we don't know how well a particular area is going to filter the particular chemicals.

If you put more down, you'll see your Cash on Cash ROI improve and your Total Return compress.In terms of your variable operating expenses, I use the following:Vacancy:  8%Property Management:  8%Repairs:  $50 per unit, per monthCapEx:  $150 per roof, per monthI think it makes more sense to use a flat amount per unit for repairs since repair costs aren't necessarily correlated with rent collected.I use similar thinking for CapEx, except it's a flat amount per roof rather than per unit.Are you planning to self manage to some degree?

Likely a mix of factors: STR tax, shark fears and potential increase of supply (still TBD).

This he would need to share with the partner supplying the original $500k.