I'm not sure why that metric has held true but it still applies, the properties that perform well above that ratio are the owners that treat their STR like a business.

It's too much like the hospitality business rather than a rental. 

Busy street 2.

I’m about to expand my student rental business and am looking for rockstar contractors

Everyone was on bottled water for months.You may want to ask for proof that Flint is growing or attracting business investments.Now Detroit is an entirely different story!

Fast forward 20 years: I now have money in the bank, excellent credit, live modestly on my own, and run a business that’s doing well.Unfortunately, I wasn’t able to save much for retirement during most of my life.

Then connect with some hard money lenders (you can find some here on BP as well as some who are typing this right now) and connect with them to understand their product type, what they like to lend on and requirements.Hard money broker is all numbers game of making relationships and helping those that are looking for financing, it starts out slow but if you get with a few good borrowers and lenders it can be pretty decent money to be made.As an example we paid six figures last year to HM brokers. 

Is it on a busy street, does it have a view, etc..

Money for the down payments that comes in like an annuity either from your W2 efforts or from owning another business.

Start with small goals, and soon enough, you'll find yourself turning away business.