How to analyze a short term rental.

[Abad Marroquin]

I have under contract 2 small front lake cabins in North Georgia. A 2/1 and a 1/1 turn key. They have been on Airbnb and Vrbo for the last couple of years. I am starting to dig deep into the financials. Should the seller be able to print a report from Airbnb and Vrbo for each unit so I can see how they’ve performed? Seller has not been keeping record on all the expenses. How do I get comparable units similar in the area? Also the town where they is not a vacation destination. This would be my first short term rental. Any heads up when analyzing this deal? Thanks!!!

[John Underwood]

Yes the owner can print out reports from Vrbo and Airbnb. 

They can also provide their Schedule E from their taxes.

You can look at similar properties on Vrbo and Airbnb to see prices and occupancy and compare that to the properties you are buying to see if owner was appropriately priced.