Things to think about:Transient occupancy taxes, inspection fees, business licensing fee, etcUtility costs, which will be much higher than average bc people use your property like a hotelLaundry costsConsumables (tp, paper towels, shampoo, soap, dish detergent, sponges, cleaning supplies, etc)

What if you knew that a Lamborgini typically sells for 100k, but recently (due to supply/demand) the price was pushed up to 200k.

The reason being is that there is an over supply of housing in Baltimore City so there really is no reason for the city to be encouraging more units on the market.

Id rather get a slightly over priced property from Memphis Invest than get a smoking deal from Morris Invest. 

.● Smoking is NOT permitted inside the home or garage.Hope that helps!

Generally if you are supplying all capital and he is doing all the work you could structure a number of ways. 

Go to a building supply like marjam, Feldman  or any other commercial supply house.

More demand than supply.

If you cannot get rid of them through vigilant housekeeping and extermination issues then somewhere they are being supplied all of their necessities.

I have spoken with a real estate agent we have used before and he thinks as long as we can supply the plans, we should be okay but he did let me know there were some additional items that will be needed if the person buying the house has an FHA loan.