That’s pretty boilerplate in MLS forms.  

Download PDF Edit Report Discuss in Forums Other Actions $1,500.00 Monthly Income $786.67 Monthly Expenses $713.33 Monthly Cashflow 12.53% Pro Forma Cap $10,024.00 NOI $18,480.00 Total Cash Needed 46.32% Cash on Cash ROI 18.26% Purchase Cap Rate Expenses Income 50% Rule Total operating expenses: $664.67 Mortgage expenses: $122.00 Vacancy: $75.00 Repairs: $75.00 CapEx: $75.00 Insurance: $150.00 Management: $150.00 P&I: $122.00 Property Taxes: $139.67 $54,900 Purchase Price Purchase Closing Costs $2,500.00 Estimated Repairs $5,000.00 Total Project Cost $62,400.00 After Repair Value $80,000.00 Down Payment $10,980.00 Loan Amount $43,920.00 Loan Points $0.00 Amortized Over 30 years Loan Interest Rate Monthly P&I $122.00 Total Cash Needed $18,480.00

She owns the house free and clear.We have a lawyer.I figured this is a great opportunity for me to possibly rehab and cash out refi for leverage to re invest?

You are correct that the tax treatment of Airbnb business (emphasis on "business") is distinct from other forms of real estate investment - and that you should get clarity about that to incorporate into tax planning and investment ROI analysis.

In terms of response rate what is the best form.

In terms of response rate what is the best form.

I know that I will only occupy a unit for a limited time, and the house-hack is just a way to get more favorable rates, better loan terms, and elminate, or severely decrease my housing costs today.I am sure there is someone on BP who has built some wild spreadsheet, or other model where you can actually calculate the value of no mortgage, but for me, as long as I am covering most, or all of my PITI while I am occupying a unit, and the deal works as a stand-alone investment deal, then I am done running numbers. 

In the past year, I have finally decided it was time for me to purchase a property and be an investor.

In my research it seems that some states have newer protections that can be built into the condo in the form of specific bylaws following a certain date(s)...I'm not sure about AZ specifically, but it may be something to research.

As far as determining if an area is "safe", for me it is less about statistics and more about spending time on the ground and getting a sense for it.