Roughly backing into an offer price:At 65% occupancy, revenue 170 units at $80 at 65%= $8,840/month = $106,000 per year revenue.Costs as noted above without P/I= $58,000Revenue less Costs w/o P/I= $106,000 less $58,000= $48,000 P/I before income taxes and depreciation expense.$48,000  / 12= $4,000 P/I per month. 

Purchase price: $435,000 Cash invested: $450,000 Duplex1 side long term rental ($1800/mo revenue)1 side short term rental ($1800 ~ $2000/mo revenue)This is a new investment so I don't have accurate cash flows, but the property will be cash flow positive as it was bought in cash.

This may sound counter intuitive, but they are normally sold to families who are looking to use the basement or attic space as extra living space so there isn't a focus on revenue from the space. 

Not only can you get an estimate for revenue potential based on your address, but you can check out free comps of other STRs near yours to see what amenities they offer and what you can add to your property to stand out from the crowd.

Lead with revenue. 

Build a spreadsheet and pull together the Cost to buy or build, revenue model, and a cash flow model.B. 

I subscribed to Listr early March 2022Its $250 for the trainingAnd 10% of gross revenue for them to host your listing, and use their property management software,Plus an optional 2.5% of gross revenue if you want them to manage guest communicationsThe property management software lets you manage bookings, cleaning schedules, dynamic pricing, and manage your STR listings on multiple platforms (airbnb, vrbo, tripadvisor, homewaway).However, they don't let you access the property management software until you have your first listing.I haven't gotten my first listing yet so I'm not sure how good the property management software is

This would add $208/mo. revenue and another $169/mo.

So, if you buy one of these, you'd need to make sure you put no more than 50% down and then make quarterly or semi-annual payments with a solid clawback provision for the inevitable portfolio runoff.Most of the PMC sales we've heard about are priced at 12-30 months of revenue.

I want the one that owns the building and is more salt of the earth.Lead with revenue.