Not to mention that frequent drives in the summer to check the house between bookings became less and less attractive.That’s when I decided to switch to a mid-term rental (MTR) strategy for the summer.Advantages of a Mid-Term Rental StrategyYou reduce your time spent managing multiple reservations and property turnovers.Your MTR strategy can co-exist with your short-term strategy, allowing you to attract a different segment of travelers.Pay smaller fees/commissions.

Not to mention hair salons clog drains on a frequent basis. 

I was frequently calling the seller.By working an off-market deal directly with the seller, I was able to buy the property significantly below market value.

The seller had conveniently failed to disclose the frequent roto rooter calls to unplug the sewer line that was penetrated by tree roots.

I have enough frequent flyer miles to almost never have to pay for a coach ticket again.. and a few million points with Hilton...

On the podcasts and in the forums you frequently hear about the successes and how everything is great unless it is better than that - while I have a real rental business with frustrations like yours.

I have frequently gotten prices reduced.

Lower margins and frequent issues should be expected.

The property manager who is also a real estate agent, who I interact with frequently, sent me these numbers:They want 650k for the property.Tax and Insurance: 766Mortgage: 2482 with 20% down 4% 30 yr fixedRepairs: 440 (based on 10% of monthly income)Vacancy: 440 (same calculation)Total Expenses: 4128Net: 272 month, 3264 yearCap Rate: 3264+29,784/650,000 = 5%Cash-on-Cash: 3264/ 130000 = 2.5%First off, is this math correct?

Let me make one final attempt to clarify for the audience.