Viewing a contract of local VR PMs would be helpful in your start up.Lots of good information from previous posters. 

My hobbies include inventing cocktails, petting random dogs and real estate porn (one of my favs: http://streeteasy.com/blog/bathtub-in-kitchen/)Anyway, I'd love to connect with like minded investors in or around my markets. 

This property is on the water and will be used as a VR. 

You could give them the choice of either $25, or pull it up on your laptop (at the property, hooked up to a cell phone wifi hotspot) with you sitting there watching and them on a guest account, with the web browser in porn mode. 

It's a lot of work, especially if you're renting a big place you should Hire a good VR cleaning company.

Prior to these sites emerging to dominance, I wouldn't have gotten near a VR with a ten foot poll; with this new platform, though, it can be incredibly rewarding if executed correctly and something I help interested clients to pursue.As Justin said, how selective you are in the neighborhoods you choose to invest in (AKA: being very thorough with your due diligence and making sure to avoid the neighborhoods where people are likely to take issue with short term rentals operating in their back yard and attempting to make formal changes to legislation) will go a long way in dictating the success you have.For instance, Del Mar just recently put a temporary stop to any new short term rentals operating in the  Zip Code and are currently 'sorting out' the 'unclear verbiage' regarding short term rentals in their municipal code.

There is a VR on the market for $1M and grosses 150k.

Take it a step further - what about child porn?

I'm beginning to explore insurance for a VR that I will be purchasing soon in the SouthEast - mountains not beach. 

I was thinking of Vacation Rentals and I heard from a someone that they have a VR which they have leased to PM company for 5 years and have guaranteed income ?