While tools like AirDNA can be a useful resource for understanding the local vacation rental market, it's important to remember that they are based on estimates and may not always be completely accurate.

If you do not have an appraisal on hand with market rent, I would use Zillow, rentometer, deal check, even biggerpockets has a rent tool as well - good luck! 

ARM is eventually better than IO, but IO could be a good tool if you add principal every year and "structure the payment" following 3% amortization ( I did this). 

Be sure that is not the case if you choose to go that route.A heloc is a great tool if you can have access to it in order to do the updates needed.

This was before many of the tools available today and before AirBNB.  

I've been pouring over the resources here on BP, read several of the BP books, listened to hundreds of the BP and Straight UP Chicago podcasts, poured over the SAAS tools, started comping and evaluating deals and found several Meetups to attend.

Private and hard money are great tools to get you into good deals. 

During my analysis with the rental property tool, I assumed a $3,875 Down Payment and 1,200 closing cost.

It is an amazing wealth building tool!

Estimate time (in this case you know 1 guy / 2 weeks, sounds about right with odds and ends)80 hours times $30 is 2400 in handyman labor, that's 4,800 a month including truck, tools and taxes - income is so low, he would not qualify as a tenant for us