I've done a lot of research and my twin sister owned/ran a STR (so I learned from hers too), but I haven't owned a STR myself.

We learn to build relationships with people and companies.

Lessons learned?

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.

. 😂 But we are learning a lot!

Looking forward to learning more from the community.

I learned about them from a Rent to Retirement podcast where they interviewed a former W2 FT sales guy in tech (that's me today...) turn real estate investor.

Spend a year learning and going to meetups before you fork over a $50-$100k franchise fee and half of your profits and don't even know what you are doing.

They didn't like it at first, but they learned the hard (financial way) to conserve heat since they were now paying for it.Have you considered switching all of the units to electric baseboards?

I live on the west side of London and would be happy to connect and learn more about your goals and see what I can do to help.