I asked Chatgtp what the differences were and got this reply: XIRR (Extended Internal Rate of Return) and IRR (Internal Rate of Return) are both methods used to calculate the rate of return on an investment, particularly in the context of real estate investments.

Otherwise, you're moving internal concrete block walls and your renovation cost is way under to get a standard floor plan.  

Investors, primarily OOC investors, were supporting the market up until I'd say about 3 years ago.But the city has come a long way and there are a) a ton of programs to help first time home buyers, and b) more people moving from the suburbs into the city.We talk about this trend/change a lot internally.

 16 terms you need to know in commercial real estate:1.Internal Rate of Return (IRR): A metric used to estimate the annualized return on an investment based on the timing and magnitude of cash flows.2.Cash-on-Cash Return: The annual income generated by a property expressed as a percentage of the initial cash investment.3.Discount Rate: The rate used to discount future cash flows to their present value in financial models; often represents the required rate of return.4.Capital Expenditures (CapEx): The funds set aside for property improvements, renovations, or major repairs.5.Gross Operating Income (GOI): The total income generated by a property before subtracting operating expenses.6.Operating Expenses: The costs associated with managing and maintaining a property, including utilities, taxes, insurance, and maintenance.7.Debt Service Coverage Ratio (DSCR): A measure of a property’s ability to cover its debt payments, typically calculated as NOI divided by debt service.8.Loan-to-Value (LTV) Ratio: The ratio of the loan amount to the property’s appraised value, used to assess risk in financing.9.Equity Multiple: A measure of the total return on an investment, calculated as the ratio of total cash flows to initial equity investment.10.Residual Land Value: The estimated value of land after deducting development costs and desired profit margins.11.Sensitivity Analysis: A technique used to assess how changes in key variables (e.g., rent, expenses, interest rates) affect financial model outcomes.12.Operating Pro Forma: A projection of a property’s income and expenses over a specified period, typically used for budgeting and financial analysis.13.Cash Flow Waterfall: A structured distribution of cash flows to different stakeholders in a real estate project, often involving equity investors, lenders, and developers.14.Leverage: The use of borrowed funds (e.g., a mortgage) to finance a real estate investment, potentially amplifying returns but also increasing risk.15.Equity Investment: The amount of money invested by equity partners or investors in a real estate project. 16.

Quote from @Agustin Rossi: It's an algorithm based valuation based on internal data. 

Most guests don't book more than 12 months in advance except for locations with international travel. 

All of this said, my partner has seen a ~41% internal rate of return on her investment, excluding tax benefits, in just the 6 months we have owned this property.

That's our take on the international spots.

The estimated value is internally created by management based on assumptions they believe are correct.

Then AI from matterport can cross analysis the internal cost of material, so if they use LVP this or that, the bathroom type, they can quickly scan the price point at Homedepot.