I may have the opportunity to buy this property and basically name my price, but I wouldn't do it for an unfair price.

If the rental analysis works out close to a fair market price I might be able to do it..

I am thinking that this place could be exceptional for this area as far as a non-seasonal vacation rental because it has great summer and winter characteristics. 

In the summer it is great because it is right on a very nice river that is very popular for canoeing and tubing. The river also is great fishing for trout and even sturgeon, as well as deer and rabbit hunting, and ATVing. 

In the winter this is a snowmobile hotspot. It is about 1/8th mile from a main snowmobile trail and a nice bar whose parkinglot is often packed with snowmobiles. The place has a large barn with doors on each end so snowmobiles can park inside and drive right out the other side. It could easily fit 10 or more sleds to be parked inside, and has an additional attached 2 car garage.

It is also only about a 10 minute drive to get on the main highway I75 so it has great access for travelers. 

I feel these factors give this place an advantage over most as a prospect for a short term rental property.

The downside is that the place is not extremely fancy. It is not all brand new bright and shiny and very modern, but it is a nice place nonetheless. It is however well done and nicely maintained, with nice front and rear porches, the rear with a view of the river.

It has 3 medium sized bedrooms with room for a king/queen in each, a large living room, dining area enough for 10, and another larger livingroom/familyroom. 

Looking on Air BNB it goes by how many guests can be accommodated. Well, 6 for the 3 bedrooms, but what about additional sleeping options such as hide-a-bed couches in each of the living rooms, or a few single beds could be put in the other livingroom? How do you account for that if a group wanted to come for a snowmobile trip? I don't think they are the kind of guys that all need their own king size beds if you know what I mean. I even see them in RVs in the winter.. Come to think of it their is plenty of space for an RV as well if they wanted to bring one also. I could even put RV pads in the back field for summer.. 

How can I value what rental income I could make off of this property? Air BNB comps seem to be from 150 up to 300 a night, I think.. 200-250 a night sounds appropriate do you think? What about occupancy, how can I estimate it? 50% maybe?

 $250k @ 6% 30yr = about $1500 a month loan payment X 12 = 18,000 a year..

$250 per day X 365 X 50% = $45,625

Taxes $5,000 year maybe.. It's a little over $3,000 right now with homestead but another 15 or so acres.. 

45-18-5= up $22k per year.. 30% occupancy still more than breaks even.

Here is the property..

https://i.imgur.com/YD4zSTG.jpg?1[/img]

https://www.google.com/maps/@45.2924483,-84.605787...

What do you think? 

Any ideas on price and income property prospects?