@Christine I.In my experience, OCCUPANCY is what makes or breaks a STR and creates a viable long term revenue stream.

My mortgage is 1,700 per month and YOY I just did 54k (May 21' to May 22') in total revenue.

Does anyone know if mobile homes on leased land (no parcel) and seller-financed would be eligible for installment method reporting since they are (i) personal not real property, (ii) the notes cannot be considered as cash equivalent and are generally not marketable (no established secondary market), (iii) have a high rate of default/repossession and thus may effectively crumble one of the pillars of revenue recognition?

This would most likely 2x your revenue rather than just renting out the whole house as one LTR lease.I am over here in Virginia Beach, so let me know if I can help with anything! 

We have been looking at an STR that has great revenue--even booked out until December.

Some excerpts and my comments in boldhttps://www.airdna.co/blog/air...Highlights:-Available listings reached 1.34 million, up 24.7% YOY (+11.8% vs. 2019)-Demand is up 17.9% YOY (+26.1% vs. 2019)-Occupancy was down 8.6% YOY to 60.2% (+8.6% vs. 2019)-Average daily rates (ADRs) are up 4.6% YOY (+31.5% vs. 2019)-Revenue is 23.3% higher YOY (+65.8% vs. 2019)Still looks like a very healthy industry, my greatest concern as a lender remains those who are new to the market and doing their first or second listings and don't have the experience per se of the "good times" of the last 2 years and may not be able to weather a bit of a slowdown or rough waters. 

Using comps on Airdna I determined an expected annual revenue of ~$2100 / mo.

For purposes of this definition, rental property is defined to mean real or immovable property owned by the taxpayer and used in the particular year principally for the purpose of gaining or producing gross revenue that is rent. 

I would venture to say that a good percentage of folks who leveraged to purchase an existing STR in the past 12 months in the Smokies is going to have have a real hard time handling just a 10% drop in revenue, much less a 50%.  

We still had more than enough revenue to profit in the offseason.