As investors we need to analyze things holistically not just in a vacuum. 

As for the rest of point 4 I think, in a vacuum, this might be correct but as technologies improve, especially LLM/AI products I think Agents will become even less important.

It takes a little longer to sort out the statements at the end of the month, but it's a small price to pay for maximum airline miles/points.I just don't want to get in trouble with the IRS, or expose my personal finances to business liabilities (i.e. corporate veil).

VACUUM THE TRUCK!

Airlines showing signs of weakness which translates into weakness for hotels as well.Refinancing will likely be an issue as loans come due.So just like multifamily and office there will be fallout. 

It has not been my experience that investors operate in a vacuum, at least not in my markets. 

I have a lot of miles on airlines, but unfortunately I travel using so many different airlines that I don't get any rewards.

If the answer to the second question is more than $10K above the answer to the first question, it's probably a good investment.That's a very simplistic way to look at it, though...In real life, unfortunately, you can't just look at each component of the rehab in a vacuum like that.

Maybe it doesn't make perfect sense in a vacuum of low interest rates, but never having to worry even through the most recent downturn is pretty high on my life priority list.

I co-own a management company statewide but HQ in Tampa.We use Abnb, VRBO/Homeaway, Booking.com, Allegiant and JetBlue Airlines, Google Vacation Rentals, Marriott Homes & Villas, and some other smaller ones that do not bring in much like Home2Go etc.