Just curious - do you have 2 year lease with automatic rent increase set up with this purchase? 

When you sell the house what title issues will you run into that will increase your holding costs?

The other option would be to figure out how to increase the income of the place to make it work.  

As a yearly lease guy, using Air BNB to increase gross revenue is interesting, but I wonder if the additional work is worth the real NET gain. 

On the income side a lot of the time they are trying to sell off the Pro Forma numbers and not actuals - I’m using their actuals, and if they are drastically under market I’ll put a slight increase on the actuals.

We had originally thought to rent it, but we may look at possibly flipping it and putting that cash into a rental, since we will be able to increase the value pretty significantly for not too much.On question we have is whether to convert a small, sunny extra room on the first floor into a mudroom. 

The Plus Membership more than doubled in price with a 111% increase and unlimited reports and history were both killed.  

Without the depreciation recapture rules under, the $10,000 (sale price of 10, 000 - your basis of 0 ) gain you recognized will be taxable as capital gain under at a maximum rate of 20%.Thus, the sale of the machine in Year 2 would increase your federal income taxes by only $2,000 ($10,000 × 20%) (and would not be subject to self-employment taxes).

The legislatures continued drive to add regulations for everything will cause costs to increase for landlords.Rents will rise as a result. 

They would be entitled to 3/5 of the cash flow, and the developer would likely have their fee and also promote waterfall structure where upon hitting certain returns, their % of return in increases.