Getting into Airbnb arbitrage can be a little tricky and can cost a large lump sum when getting started especially if you are dealing with furnishing luxury apartments/condos. 

I know the ideal is always for all to put 20% down, but I never had that luxury. 

This could be luxury properties, condominiums, land parcels, commercial, resorts, REO, investment with high holding costs, estates, etc.

Obviously this number changes based on each person's life circumstances, whether they have other commitments to attend to, Etc.For most people property management is a luxury, not a necessity.

My colleagues, who make 1/5th of what I do buy luxury brands and wonder why I don't as well.

High end luxury homes may be different. 

Tubs, for the most part are a thing of the past - at least in luxury homes. 

Luxury homes will drop much more because there will be fewer buyers.

I was unable to start making offers during that time because we needed to first save more capital and second unload our primary residence (luxury condo that had the potential to turn into an albatross since other units were selling much lower than they were purchased for and we needed to sell that before moving forward in case we needed to bring cash to close).

Sorry in advance that this is long.Background:  I purchased a lodge type custom home in the Ozarks Mtns (Missouri) on 25 acres of pristine woods - we moved from the west coast to semi-retire.