You base your offer on how they currently perform, knowing you can increase value by increasing revenue, cutting expenses, streamlining processes, etc.If you're sticking to the local market, it shouldn't take much to market your desire to buy up portfolios.

Many of my neighbors don't even list on Airbnb anymore due to its poor performance in my area.More importantly I am a Premier Host on Vrbo!

Is the property value included in the listing price on a property with a performing resort/bed and breakfast?

IF the real estate broker/agent is performing a service in the transaction without receiving compensation ( seems unlikely but crazy things occur all the time) then there’s an excellent chance that the agent will get sued at some point for something related to the transaction.  

But if you do your research and you see that, for example, in general people are paying 25k per lot in a certain neighborhood, and you're getting one at 5k, then yes, that could be a good deal, but sometimes I end up wholetailing those (closing on it and then listing it) because that is more of an MLS type buyer, plus people buying land often don't have the urgency that flippers have, when it comes to performing within a tight escrow timeframe. 

There are places in that budget, but I am not sure how they perform.

They perform better as STR's and/or they sell faster if you're just wanting to house hack and sell later.

There were multiple days, and even weeks, where no work was performed at all, no progress made.

You don't receive your construction money from the lender until the requested draws are performed.

I've been seeing those rates out perform DSCR rates as of late.