We were very tight on the rehab budget with raising material and labor prices.

Have you run repair and capex budgets?

You don't need that every year, but you do need to budget for it.  

We've decided to up the budget a little bit and have discussed the level of rehab we're comfortable handling (both from a first time perspective and while not being onsite daily for) Finding the properties seems to be the easier part, we have also come to agree that we need to find our team first before going any further (PM and contractor) I'm still optimistic and our goal is to buy something in 2019.

Stock prices for example don't affect the average renter's monthly budget.

  $400 is out of the budget for most people.Conclusion: RV rental arbitrage is not feasible.My next study will be to arbitrage a houseboat.

I budgeted 10k for legal.

Hey @Cody Ringler, the way you budget for an Airbnb rental is a bit different from how you'd budget a normal rental. 

I like to review the whole picture, example not a strong credit score, I then review the history on the report and can see what chess playing financial moves they had to do, (school system does not train us to master budgets, credit cards, etc, it is learned in the school of life) reviewing the history report you can see which bill account they made priority and which ones they didn't, and if they decided to not pay or skip few payments on non-essential accounts, that's okay with me.

Set a budget as soon as you receive your income and allocate the funds directly to your investments.