If so, is that assuming that the builder builds at cost (and "proves" it by providing invoices/etc. by the subs)?

We did not do a sewer scope which turned out to have some issues, so that ate into our CAPEX budget.

We were to close mid-August but when I went to sign that day Title called and said we did not have short sale approval.

My property performance is way below what AirDNA would estimate so I am trying to do some investigation on my own.

I'm thinking it's better to do 25% DP on a smaller place than 10% DP on a bigger one so my options are apartment or small townhome.

Well, a realtor and a lender already insinuate that investing there is great so it must be

There's also growing regulation risk for the investor, thanks to the hospitality lobby convincing local Karens and pearl clutching city officials that short term rentals are nothing but drunk college kids and constant crime. 

I own a few online businesses and in negotiations to purchase another local physical business within the next month or so.

We couldn't justify the low ROI.We're so thankful we built the big one first. 

So, like Chris said, there is no way that Airbnb does NOT impact the market, but it's impact, in my eyes, is grossly overstated, at a high level.