I don't have any apartments in the traditional/complex sense either, and I'm sure that turnover is higher in those.  

Generally speaking high priced RE doesn't make sense for LTR. 

Although getting a Heloc for the cash flow does make sense. 

This might make sense depending on size of rentals and # of LLCs that are required to file - need more info to help.  

Here's where I struggle to comprehend and make it make sense: So when I go to cash out refinance, the property is appraised at a higher value from market appreciation and rehab.

While the numbers they provide might make sense under specific conditions, it’s always a good idea to apply a more conservative approach to ensure you’re prepared for the unexpected.For vacancy, the tenancy averages they’ve shared (3.8 years for C class and 6+ years for B- class) aren’t out of the realm of possibility, but I’d treat them with caution.

Did you have any ratios or % gross revenue costs to just get some guidelines on whether the property makes sense as an str? 

Jersey City is hot right now but like I tell my clients the majority of the time I can find them deals that make more sense in Essex County but that depends on the client and what their needs are along with their comfort level. 

Trying to learn as much as I can and narrow down what market makes the most sense for me.

Chris,Thank you for the response, that makes sense.