I use Beyond pricing in my vacation rental markets and Pricelabs in my city/mid-term rental markets.

Tenants in many markets already believe they pay too much (contrary to recent studies that show rent to property values have never been lower for the large US cities).If my insurance costs are not double my current rates over the next couple years, I will be pleasantly surprised.  

Even a great deal can turn sour if the area isn’t aligned with your goals.What’s been your biggest hesitation about getting started?

One of my biggest wins of the year came when I refinanced my mortgage.

There is a lot of inventory in Jersey City, so compared to the rest of the state, there are opportunities there for good STR operators.

I've spent the last 3 years nagging the city to sell me a lot next to my property so I can install a driveway and they've finally agreed.

I am a firm believer that most of the reason is between our ears, and the potentially crippling self limiting beliefs are the biggest problem.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Basically, the further you get away from the city the more potential for cashflow, but you're also dealing with a different tenant base that may be tougher to manage.

I understand the concept how you have described your services above but the home was not "rent ready" or had the number of rooms advertised and that is the biggest issue here.Our contract was about a year ago and the reason why I am responding now is for two reasons 1) to warn other buyers and 2) because a potential buyer of yours actually reached out to me and suggested that I post my story on this platform.Keep on responding Katee.