There are properties that probably have 2X-3X the cash flow my properties have and are comparable in price but given their location and tenant history attract a much worse group of tenants and have much higher expense ratio relative to repairs and maintenance and general wear and tear on the property because of the type of tenants they attract.

High prices can eat into short-term returns, but if you believe the area has room for growth and demand (which seems likely given SW Montana’s attractiveness for remote workers and lifestyle buyers), the investment could pay off long-term through appreciation and rent increases.4.

For each property you list, you'll attract about a dozen investors on average.

Properties in areas undergoing revitalization are especially attractive for investors looking to buy low and achieve high nightly rates.Regulation-Friendly Market: Compared to many other large metros, Indianapolis has relatively relaxed short-term rental regulations, making it easier for property owners to get into the market without facing excessive restrictions or permitting hurdles.

Fun area where you might attract young professionals who want to rent by the room. 

I appreciate your emphasis on considering factors beyond just initial numbers, such as property management availability and long-term appreciation potential.Your point about Detroit's attractive price-to-rent ratios and ongoing revitalization is intriguing.

You just do not want there to be any confusion about the deal points that made the deal attractive for you to buy in the first place.

The minimal need for renovation and favorable market conditions in the Jasper, GA area made this an attractive opportunity to capitalize on.

What makes you attracted to real estate as something that can bring you income in the future? 

Investor Consequences: Lower Cap Rates: With reduced rental income, properties may have lower Cap Rates, making them less attractive from an ROI perspective.