It's a combo of low housing supply, higher interest rates vs. seller expectation, and a poor economic outlook for the country.As an investor with a few rentals it's like like the parking brake is stuck on.

So, I think you can expect interest rates of 8% right now or possibly more. 4.

My take on this is to underwrite purchases based on expected LTR rents (I like rentometer and the BP's own rental estimator), but start charging 1.5x that rent for your MTR.

You can't go to Vegas and expect to be reimbursed for your gambling losses.

To be expected. 

From the little I know of San Antonio (I am a wholesaler who specializing in selling STRs nationwide) its not a super hot Airbnb market but the amount you expect for rent sounds pretty conservative. 

A quick word of advice: Do NOT expect a home run deal.

You could put in a range of numbers for purchase price and closing costs, renovation expenses, and expected returns and you could very quickly get a range of projected return on investments (although an excel spreadsheet could easily do this as well), but I'm sure as technology develops we will see even more sophistication in AI's ability to assist in deal analyzing.

If you think that is the expected outcome of owning rental property, you should either learn where and how to buy, or invest elsewhere.

This deal taught me the true meaning of “expect the unexpected” in real estate!