Income and cost are 2 separate valuation models (with sales comparison being the 3rd and typically primary).

Talk to the closing attorney, as they represent the mortgage company, who has a vested interest in you closing and getting possession. 

And then use the BRRR model and keep going from there.  

Here is a quote from Billy Gulley's website:"Where the clouds of the storm move in, acting as an individual in one transaction is much different from a legal standpoint than building a business model that does nothing but assign contracts.

And then the members of that LLC can be other LLCs and/or C-corps or other entities...In one of the models I use there is one entity that owns the land, and another that manages the HOA, and a third that owns personal assets of the property (like swimming pool equipment).

However financing, regulation and taxation are sufficiently different that the present tools cannot provide you an accurate modelling of Canadian properties.

Depending on your model there are several membership be if it’s/amenities that you could/should consider adding into your membership plan.  

It gave me more clarity on our business model that if we are holding long term and it's a great asset, dont' always just focus on price, but look at the valuethanks for sharingGino

It's true that some places will only book up last minute, but that depends on the particular location and is not a model you want to follow anyway.

The level of involvement is a common objection I'm hearing, but I know there are at least two PM companies in the area that specialize in the Rent by the Room model - Homeroom and Bungalow.