Strong rental demand: With major employers like the Cleveland Clinic and University Hospitals, along with a growing arts and culture scene, Cleveland attracts a steady stream of renters.Revitalization efforts: Many areas of Cleveland are experiencing significant revitalization, which can lead to increased property values and appreciation potential.I can't comment on the Detroit market specifically, I have never been and have never done any research on it!

In a university town nearby, student housing is restricted to certain areas of town and prohibited in other areas of town. 

Since we're In a college town, a majority of our travel demand revolves around the Texas A&M University and the university's events.

Princeton University’s Eviction Lab estimates 1.5 million Americans face eviction annually.

If this is not something you're interested in delving into and learning to a high degree, then investing in publicly traded REITs would be another good option for you, which have historically returned about 13.5 per cent Per year over the past 50 years (1977-present), beating the US stock market by two per cent and even beating private real estate investing by 4 per cent (that's compared with the average real estate investor, not the experts here at Bigger Pockets).

If you plan to use cash to finance your acquisition and rehab expenses, this will help minimize risk exposure to a certain degree.

With my LTRs I have been switching to all tenant paid utilities after my first winter where I discovered the majority of my tenants were setting the heat at 78 (which is unreasonable in Northern New Hampshire) and leaving their windows open in -20 degree weather.

There's also a major university there, Ken Griffin just moved Citadel hedge fund down there, and the technology entrepreneurial landscape is opening up as well.

The type of home you can get in White House is a different universe compared to what you'll get in Nashville if you're trying to be 5 mins from the urban core.Make a list of what is MOST important to you and that will guide your decision making.

STRs in Non-Traditional MarketsShort-term rentals in areas near universities or event venues are gaining popularity.