How accurate are STR revenue generator websites?

[Aaron Buehler]

Hello all, new investor here! I am working on rehabbing some smaller cottages in northern Michigan, the plan is to put them all on the STR market once they are complete. It seems to me sites like AirDNA and other revenue estimators for STR's seem to be giving me what I feel is an unrealistic number, my question is how accurate are these estimators? It seems there are so many factors that may sway that number (based on exact location/amenities) that it is hard to get an accurate estimate to analyze the deals.

I have done my research and feel confident the properties will still cash flow with Long Term Rental rates in the area, but will cash flow a much higher rate if the STR rates on the estimators are accurate.

Has anyone found a better way to analyze a deal for STR?

Any suggestions to maximize the monthly income on new STR's would be appreciated!

Thank you all!