Illustrative scenario only — not a guarantee, projection, or promise of performance. Actual results depend on specific properties selected, market conditions, occupancy rates, operating expenses, and factors outside our control. Revenue estimates assume short-term rental strategy at top-quartile managed occupancy (55–65% benchmark) and average daily rates by segment sourced from AirDNA and AirROI market data; actual results will vary materially. Net operating estimates apply a blended 50% expense ratio covering management fees (~22%), platform commissions, insurance, HOA, maintenance, reserves, and utilities — actual ratios vary by segment and property. Tax savings compare SXM's current 0% annual property tax to a representative 1.5% US rate; SXM policy may change. Setup costs vary by property condition and furnishing scope. Portfolio composition is algorithmic illustration — actual assembly depends on available inventory, client objectives, and market timing. Consult qualified legal, tax, and financial advisors. Verified economics provided under NDA in the Private Deck.