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Steve declares arbitrage is dying and backs it up with hard numbers: a Dallas one-bedroom now costs $2,800/month just to break even before profit, between rising rents ($1,800-$2,000), utilities, insurance, noise monitors, and recouping $7,000 in furnishings over a year. He predicts 90% of new arbitrage hosts will lose money or barely scrape by as inflation, supply-chain delays, and 6% interest rates squeeze margins that were fat in 2020.

Myka counters that arbitrage still works if you use it strategically - build business credit fast, replace your W-2 income, then pivot hard into buying real estate before your leases expire. They agree the old plug-and-play model is dead, vacation renters in metro markets are a headache, and the real win is equity: one guest paid $3,500/month for a furnished two-bedroom in North Dallas while waiting for his house to close. Steve drops a Texas gem - Reliant's free nights-and-weekends electricity plan cost one weekend-focused unit four dollars the first month. Both hosts stress wealth over being "Airbnb rich," pointing to Julie's seven-figure management-company exit and a mentor pulling a million from the bank versus arbitrage cash that vanishes when bookings dry up.

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