I have a 6 BR Vrbo that sleeps 23.You can set your extra person fee above a certain number.We charge an extra $1,000 for weddings.If people just come over to visit we don't charge extra for that.

Does that rent include vacancy such as would be included if you used average daily rate (ADR)You have utilities, maintenance/cap ex including on tne furnishings, PM (always include it even if self managing because your time has value), potential vacancy, increase in insurance cost (STR/ MTR insurance typically costs extra), and miscellaneous.Your cash flow will be significantly less than the $1500 that was rent minus PITI.However, if the house is bigger than you need then there is opportunity.  

Was approached today to owner carry for a local investor who wants to continue to rent it out. 

I've done 100% owner carry and 50% owner carry.

Hey BP, I have a smaller portfolio of long term rentals and I am looking for some protection advice. I’ve been advised to look into an umbrella policy. Any of you out there have experience or advice on an avenue to pu...

Having 12 months of financials is a great starting point since you can validate actual occupancy and ADR, but STRs in South Florida do carry extra risk factors—local regulations can shift quickly, insurance is expensive, and seasonality is huge.

That will carry you far.

Tenant Management During Longer HoldsIf you’re planning to hold for 6–18 months (waiting on appreciation, permits, or financing seasoning), a property manager can place and manage tenants so you’re not bleeding carrying costs.

Be cautious of excessive markups on upgrades; get detailed quotes and compare prices before agreeing to extras.

Like a Dave Ramsey book on budgetting that should just say if you don't have the money don't buy it on the first page and then you can include crayons or for an extra $20 magic markers with coloring book pages.