Hi Kimberly,Thanks for your reply.I indeed need to investigate it further, but first I'm checking if there's any potential business out there for me since I don't know if this initiative will work.There is indeed a big enough market of Airbnb properties in my area, I just need to find out how to contact them and explain to them why it's worth using my management service rather than self-managing.

Can I work a deal where they get a loan for $180K and we do some sort of personal financing between us that they pay back the difference of $170K (so we continue to cash flow about $500/mo)?

If the tenant is more likely to take care of the property and continue leasing from me because of a relationship established at the beginning, I would do so on as many properties as possible.

If the property has several units with pet fees and you will continue to allow pets then including pet fee income seems right.

They are local to the area (the first family is moving back to the area to be near family but say they are going to continue to commute to their current jobs which are at least a hours drive from here). 

I talked to my partner,@Michael Beeman and we went to investigate.

If they have permission from the previous owner, no adverse possession.Its continuous for the required period. 

Every deal is going to be different, and every different exit strategy is going to have its unique set of factors that you'll want to investigate, analyze and be aware of.Pick up a good real estate development text book, take some university-level real estate courses and find someone doing what you want to do and see if you can get them to spend some time with you.

It wasn't a bad experience, but since neither of us were ready or wanting to go down that path at that time we did not continue with it. 

If you want to replace the tiles, you'll need to pull them down and investigate regardless.