If I had to throw my $0.02 in here, I think it's due to how profitable it is to increase the number of homes on a lot.

Just to throw my input on this thread, I managed numerous units for short term rentals well before the Airbnb era. 

Throw in points and a funding fee and we're talking real dollars.  

I still like them, because I've figured out how to manage them properly and screen for the best tenants in the "Class C" crop.Anyway, throw out some numbers and let's see one that you've analysed.

There are as many ways to structure a deal like this as you can imagine and I'll just throw out a couple of thoughts.1.

This is why wholesalers usually do a terrible job estimating repairs, they are just throwing darts.

Highly Recommend this Book and Beware, he does throw some formulas which I believe are important but its not tedious as a calculus class.2.

The biggest thing I can recommend is make sure you know what it will appraise for afterwards and be certain about that number so you can pay the hard money back, and you get accurate timelines for how long it will take the do the renovations as well as the cost, then throw another 10,000 ontop of it just incase. 

@Luis Torrico it is possible but not from a cash flow perspective, if you count cash flow + loan paydown 10% is elusive but possible in SoCal if you throw in appreciation 10% is well within reach. 

Both co-working and STR are ultimately real estate plays but the similarities seem to end there.Having played in both the co-working space as a consultant and then director of operations for a $12MM project and operating my own vacation STR and other real estate assets I will share some insights.first off, I don't want to throw cold water on your idea because it sounds very innovative, but immediately some concerns come to mind and a few ideas of my own are also sparking.