Since Airbnb has a higher potential income it inherently may have risks that a regular rental property would not have, so I would still pursue more properties if I were you so that if you need to shift that unit from Airbnb to a long term regular rental you will still have more potential income with other rentals.

During the pandemic there has been a definite shift from city living to people moving to the mid-west to try and avoid city life, condos and apartments.

The seller market shift to buyer market can happen within a few months.

Unless there is a major shift in supply, we can anticipate the overall price levels to continue to inflate, so plan accordingly.

As for the next big downturn, I guess the only thing we can do is be prepared as possible to shift practices that fit that current cycle. 

I shifted my focus towards syndications, opting to be a limited partner (LP).If you're curious about this shift, you can do a quick Google search for more insights.

@Kevin Merlander For flips I am going with the lowest comparable sale in the area and taking 10% off that to account for a potential market shift as a cushion to protect myself.

Planning to be where you are in a few years just shifting into multi-family now.

Which is very strong evidence that the legal owner of the rents collected is the legal owner of the property.The bigger question, for me, is at which point will the totality of the circumstances shift toward the IRS concluding that for tax purposes the property and rents are both mine. 

Currently, we’re making the property more efficient by metering the utilities and shifting them to the tenants.