W/D no, as that way you don't have to deal with the headaches that come with W/D maintenance.

If his business failed, he likely has been deferring maintenance and other repairs.

If I raise my nightly rate $25, it would pay for itself in ~3yrs, assuming the higher price didn't hurt my occupancy and it didn't create tons of extra maintenance/utility bills.What is your experience with hot tubs?

That list has been an awsome resource for me in a pinch.We also make the time to stay at the houses when they're not rented to do maintenance and check on things that may need upgrading and replace.It always seems like alot of work, but this is our second job that is helping to put us in a good place when we are ready to retire from our W2's

i want to do renovations to my aunts home which is in poor condition due to neglect of normal maintenance for decades literally, in exchange for gaining title to this residence. it is in a very good zip code in Westland MI and includes a large lot and one half.

I have not looked at the difference between keeping long term vs keeping for 7 yrs before large maintenance items start occurring.

I understand that property taxes increase on a yearly basis and that any maintenance costs also go up on a yearly basis. 

I have listed properties on Airbnb before and have found that people generally take care of the place and maintenance expenses are usually minimal as most people just want a place to shower and sleep when they are in town.My question is, what should I be wary of with this type of arrangement?

I would advise to know your capex/vacancy/maintenance/repairs numbers for your true cashflow.

One of these we had under agreement for $530k with the seller paying all agents commission, it fell through because of maintenance issues.