Last 2 years single family has continued to increase due to limited supply even as rates are where they are (which is not actually high).

That’s a 6.7% jump compared to last year and 3.6% higher than November.

I should have said that my goal is to flip the property by EOY but rent is this year to hopefully recoup some of the renovation costs 

I made a fair size claim last year and it paid off pretty painlessly except for the 90 day lag. highly recommend them.If I had used a regular home owners policy with and STR addendum I'm pretty sure it would not have covered my particular issue.

I should note that this may be considered manufactured spending To your last point of the gifts funds....Per Fannie and Freddie guidelines, lenders can't allow gift funds on investment properties.

Outside of my decade doing tax returns I've been an educator for the last several years. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

1) I think it’s “funny” that not one news article I ever read for the last 5 years had headlines like “Housing at historical record lows!

This allows participating in the $1.1 M equity with a ROI of 100% and on going 25% annually with the historical appreciation over 30 years of 8% a year. ( Zillow stated a 10.4 % in the last 30 days $251,361 ).

This caused a historically unique opportunity for investors - they could buy Class A properties and immediately cashflow when renting them out.This couldn't last forever, and it didn't, as excited new investors drove up prices.