Keep in mind that inexpensive properties are inexpensive because they are less desirable properties in less desirable areas and attract less desirable tenants.

I'm assuming another update will be coming shortly, although I don't expect much progress.

There is a distinct difference in the law between short term and long term rentals. 

I left PPR back in 2019 and shortly after co-founded GSP REI, where I've been since.

@Shayan SameerThe non-paying tenant could impact your short-term cash flow, so consider the potential costs and timeline of eviction in your state.

I own 20 acres of land valued at approximately $80,000, and I want to build two short-term rental (STR) units on it.For context, my family already owns two long-term rental (LTR) units in the same general area.

Nonetheless, you can base the DSCR calculation on PadSplit rent (if there's a history of PadSplit income being produced) or short-mid-term market rent (an analysis done at the same time of appraisal).

In neighborhoods that won't attract high credit score tenants, I've found that a stable job history with a MINIMUM of 1 year at current or previous job to be the best indicator of a great tenant. 

Therefore, if you look at history, real estate has continuously performed in an upwards fashion while, like any other investment, has experienced short lived corrections from time to time.

Albany is also an attractive option to New Yorkers because of the price-point and proximity to nearby colleges.All the best!