Chuck, I suspect you were commenting to my post, we/I speak to all comments in threads, not just those of the OP, it's an open forum and all that is said is open to comment.

There is a single car detached garage on the property and I suspect this is where the spiders are breeding.

The better areas appreciate faster whereas the suspect areas might have greater cash flow but you also have more headache and less chance of the area transforming over time.I like to keep my life stress free.

I suspect you hired a designer?

I suspect this seller is looking for suckers who have no clue about the area to buy these lots. 

I suspect the reason being that the volume based need &/or publicity around the Fannie/Freddie REO's has lessened significantly. 

Those don't get the standard MF treatment here either :(  And I suspect a commercial lender might look at the normal operating income of a property w/o the special AirB&B use (or use a mitigant as you stated) at least for the property value, because there is not a liquid market for AirB&B managed properties w/ experienced operators to continue generating that specific income, should the borrower no longer perform.Kinda like an owner-occupied commercial building.

I've been trying to contact the PM to look into why this was so high, but I haven't gotten a clear answer yet.I suspect this is the payment for the entire year, but that's still quite high at ~$130/mo.  

But you are trying to be a world beater (which from Ben's posts I suspect that's what he's talking about) then rules of thumb go out the window.This is also why I think, as a rule of thumb, you should only invest in areas you are intimately familiar with.

i suspected as much.