There is a 40% management fee for the short-term rental option (we could likely get management to do it for much less). However, if you self-manage through an app such as Airbnb or Vrbo, your returns would almost double. There are $8,400 in other expenses, which accounts for utilities, turnover, cleaning, etc. There is a 0% for vacancy since we already factored in a 55% vacancy in reduction in regards to rent estimates.  Average rents for Airbnb in the area for other 3/1s are $292. We were very conservative at $225 a night rented for 14 nights a month to come up with the numbers for rent on the proforma.