I don't know about Memphis but I also invest in Indianapolis and my property taxes went up 17% this year.Another consideration: Nevada has low property tax rates and is a short flight or long drive away.

What is the customer demographic that is driving STR/MTR in Fargo?

Not to mention its old but the soil is a big issue then just drive on the roads that is Yazoo clay popping up and creating the pot holes and I have seen roads heave 6 inchs to a foot after a big rain..

I have surpassed that in about 2.5 years, and do feel that the $10 K number is where I would feel 'safe and content with' while having a mortgage payment down to almost 0. 

You can also use Google Drive to store receipts.

Seeing as STRs started long before VRBO (1995) and AirBNB (2008) or HomeAway (2004, now part of VRBO) this was considered when it was created.The "Augusta Rule" was a driving force.

They ask open ended questions that spur thoughts for the OP which drive them to the right answer. 

Let's assume it appreciates 2% per year to be safe. 

I would like your interest drive your focus.

Now using the de minimis/routine maintenance safe harbors instead of bonus depreciation for appliances, carpet and the like.