Determining good mid term rental market

[Richard Evanns]

Esteemed listmates,

I am located in LA, and run some MTR's here.  However, I am looking to expand into other cities now- and a little curious peoples thoughts on a couple of issues:

-What are your factors for evaluating a good midterm rental

      *City/market in general; and

      *location within a city/market?

Being near big universities, level 1 trauma centers, and business/downtown type of centers (like where the big office buildings are), I know are some good criteria. 

However, the places I have that fit those things seem to be dragging of late behind some of the other stuff. Example, I have an old timey craftsman I have which is in a more residential and nicer neighborhood than a couple others, with not as much closeby-- but is very cute (but small) place with lush yard, old timey hardwood, and more charm, etc, it is really killing the game, moreso than the stuff that is in more traditionally "good" MTR locations. 

Curious peoples thoughts on what makes a great MTR location/neighborhood. It is starting to look like evaluating MTR's is similar to LTR's which is, have a nice property in the nicest possible location to maximize rent.

Any thoughts / experiences, and what tools and/or factors people use to evaluate MTR cities, and locations within cities. I use the usual ones  (AirDNA, Mashvisor, and other Long Term rental rent tools) but don't see much that is geared towards MTR's really. 

Example, I look in a place like Fresno at STR data- totally dismal. But MTR's there do well according to what I have read/heard. Any thoughts/experiences appreciated.

[Mitch Davidson]

@Richard Evanns I agree with the fact that there isn't really good data out there on MTR's Many of us MTR owners won't use AirBNB for advertising or leasing, and with Zillow and other sources you only see listings. If I was shopping for a new one I'd be avoiding markets that are really saturated with STR's, because underperforming STR's are often becoming MTR competitors. For example, we have about 400 homes on Furnished Finder in Asheville, for a population that's about 17% of Charlotte where there are about 600 homes listed. I'd also focus on markets where people really want to be, and are relocating to, as I don't think the traveling nurse population is nearly as large as advertised, nor stable and reliable.