Vacancy is running at roughly 10% and decreasing over the past few years.

If you can get the tenant to sign a longer lease and/or increase the rent and/or decrease other expenses, you'll make your NOI go up... if you end up paying for the carpet to make this happen I think the ROI is still excellent.

Purchase price: $395,000 Cash invested: $40,000 Contributors: James Dainard I purchased this right as the Short-Term-Rental market had a big reset.AirBnb cancelled all of their bookings due to the pandemic and the previous owners decided to get rid of this unit.I took it down on an owner-occupied loan then converted it into an STR once I hit that 1yr mark.The unit is only on AirBnb for now.The manager handles all of the bookings, inquiries, cleaners and check-in/check-outs and will be eventually starting his own website for repeat bookings to decrease the amount paid to AirBnb year after year.The building (Belltown Court) is one of very few in Seattle that allows STR's and requires that all guests be given a tour of the building as well as a rundown of the rules.This investment is entirely passive thanks to my manager, at this point I'm racing to 20% equity to get PMI taken off and increase the cashflow.

I don't have much experience with that, but when they go to do the appraisal or the termite inspection (which are both normally required on a conventional loan) then they are probably going to cite the lack of normal amenities and I would hypothesize that it will throw up red flags for the lender.Either way I think your investor buyer pool is drastically decreased for financing issues and even moreso because of the level of work required as Charles described.As for the vision of normal homeowners, I do think that some type of software could help overcome that gap, but I think you are looking at a much more time intensive sales and marketing strategy, then.

HOA dues increase all the time which will eventually decrease your cash flow or make you negative.

Plus, I'm noticing the visitor demand has decreased (I live near a lot of those short-term rentals, and most of them are empty now). 

It seems like it's decreasing compared to other areas near.

That is the number I would use TODAY (11/3/2023) BUT the treasuries have decreased ~40bps in the last 3 days.

We had the tailwinds of ever decreasing interest rates and unusual appreciation in years past.

Make three raises of decreasing increments - 85%, 95% and 100% of target4.