@Adam EckhoffIf you don't factor in property management expenses, then my cash on cash is 0.96%

I plan to save the rental income for reserves, screen tenants properly, buy in C+ to B class properties. 

The numbers and business plan more than adequately support the project numbers (can share privately). 

I would not focus so much on the returns, as I would on the experience of the sponsor and team, location of the property, and overall business plan. 

Upfront expenses and monthly payments must be considered when calculating the return on your investment.EXAMPLEYou cash out $100,000 of your equity and use this as a downpayment on a $400,000 investment property.

I'm guessing the reason they get away with this is because they know how expensive it is to hire a lawyer to get rid of them.

I plan to get at least 3 quotes but I just thought this was a low ball estimate in today's cost.

At the end of the day, as long as you have the zoning you just need to go talk to your city planning/building department and tell them what you want to do.

My husband and I are planning on putting one the rooms in our house on airbnb, either as a short term or medium term rental for travel Healthcare workers and such.

Did you talk to any of the tenants while you were under contract to go over the plan?