I'm looking to rent an apartment in downtown Minneapolis, MN, and put it in AirBnB. Anyone out there have any luck with airbnb arbitrage in the cities?If so what are some areas that you found work well, looking to do it with 2 or 3 apartments. Rental arbitrage is similar to subletting as it involves renting out a property that you are leasing from the property owner. We argue that arbitrage-pricing theories (APT) imply the existence of a low-dimensional nonnegative nonlinear pricing kernel. An arbitrage is a portfolio that is either a strong arbitrage or has a positive and nonzero payoff and zero price.