What’s the difference between a bed and breakfast facility (B&B) and a house? Quite a few. To paraphrase Abraham Lincoln, “Calling a house a ‘bed and breakfast facility’ doesn’t make it one.”

Income characteristics, specifically quantity, quality, and durability, are salient considerations while physical characteristics are another. The same standards that determine whether a property is a true B&B must also apply to comparable properties used in the report. While the buyer of a B&B is often unsophisticated with respect to value (versus price) and functional utility, we’re not.