The lease has 4 more months. 

When we propose land JV's we always show the total proforma underwriting.Generically, you putting up 2/3 of the equity and getting 18% of the back end sounds low.The items to underwrite in the model are:RentsOp ExpensesSoft costs and development impact feesConst. costsTiming (entitlements, construction, lease up, etc)Rates and terms on debt (your land will set behind the lenders encumbrance)Developer fee deferral if anyDeveloper fee true equityDevelopment cap rate or NOI/CostAssumed exit cap rateLet's stop there, there are a million more questions to be asked.~ Scott

Most people on the Oregon Coast in populated and touristy areas typically choose to do VRBO or Aribnb to hopefully get more income but long term leases are also a good play on the coast.

Another piece of great info would be what would those houses rent out for if you had a yearly lease instead of daily/weekly etc.Also, how much work do you put in, or does Air BNB do all the management.  

My day job is a Realtor, where I help clients buy and sell homes, but the brokerage I work with has a property management side, so I'm well versed on the leasing side of things.

(not sure if theyre actually off yet) This is in Northern Ohio so its plenty cold.She is not on the lease....never has been.

List is $145K for two duplexes and a SFH, which lease for $2125/mo total.

The rents can only be counted once you have a lease agreement executed and in some cases deposits in hand.

The $800/month unit probably has a 50% vacancy rate with very high turnover and the $1,250 /month unit is a med student who's parents are both doctors and cosigned the lease.

2) If we work out the details, and proceed without the help of VRBO, should I make him sign a simple month to month lease?