There are millions and millions of properties and renters...you either own and manage to strong resident profiles or you own the ones with less demand or compromise standards and you get adverse selection on residents.  

In addition, many of these homes are newer and in nice neigjborhoods so you get a decent tenant profile.

There was reference to GFE's and I got the impression they were making changes to that.Thank you for clearing that up.

first impressions mean a lot.

For a 80-90K house, taxes and ins. alone will be 165, so my impression is that 45% is not that outrageous.

Unless you're taking the risk to put up an Airbnb in a restricted area, the only way I've found to exceed average market returns is to have a very unique property or experience or having impressive interior design and attention to detail.I've always found there to be three types of Airbnb investors who make money:1) The second-home investor - has a second vacation property that is very nice and furnished elegantly where the owner lists it on Airbnb when they aren't there.

My profile has more information about the contracting business. 

With the proper profile everything is possible.

And, like @Nick Patel, I was under the impression that if the servicing company was handling interactions with the borrower, everything would be legal from the investor's standpoint.

The key is to do it in such a way that you do not give the impression that you were going to make it your primary residence from day 1.