Two tenants leased the 2BD/1BA, and the studio ran on short-term rentals.

A small amount of effort yields a good long term ROI. 

Since you have high incomes and can cut your spending quickly if necessary you should be ok with some cash in a HYSA and some short term credit available.

At the same time, my market appreciates well so I gain significant value by holding on for the long-term.

The rent-to-price ratios in many neighborhoods are strong, and the city’s population is finally growing again after decades of decline.One thing that stands out to me is Detroit’s median home price—around $95k—which is far below comparable cities of its size in terms of population.

What is the expected return on investment, and how does it compare to syndication in terms of advantages and disadvantages? 

@Andrew C.I have the same questions about it as well.. for example, you now have say 5 leases that likely are all for different date ranges/terms and deposits etc. do you do all males or all females together - I'm assuming this depends on the state you're in?

Here’s why I’m asking:Say we sell a short-term rental (STR) for $700K, with $150K in equity we want to 1031.

. - neighborhoodscout includes the year 2000 in their free infoI would use 3% (it has 2.9% since 2022) long term appreciation.  

I’m based in Utah and plan to invest in long-term rentals in UT, OK, and/or TX.