I have an STR in Niagara Falls and it does pretty well based on the purchase price. 

They determine this based on a % of Fair Market Rent (FMR).

Along with a kiddy-pool sized litterbox in one corner of a room, cat urine and feces in the OTHER corner of the room on the carpet (newly installed by the seller when I bought), and a smell that made my eyes water walking in the front door.The lease has a clause for Tenant-Caused Damages resulting from tenant negligence.

.✅ Maintenance & Repairs Handled – No more emergency calls at 2 AM about a broken water heater!

Remodeling, painting, carpet, flooring, light or water fixtures - sure, I'm good with that.

Fill water tub with water a couple minutes( good time to tighten down toilet bolts and caps) caulk tub five minutes.

Hi all! Excited to join the BP community.
About myself - I am a principal of a RE development company and co-founder of an proptech company. 
On the RE side - I own/developed 2,000 residential units across the Unite...

The other thing could be tracking what you have had come up on the last 5-10 projects after closing, i.e. the water heater was at the end of life when we bought the last 6 out of the last 10 properties.

That also plays a major role in what to do. end of day stocks and real estate over time provide the same return on average - so it is really based on the individual, their experience and desire Thank you. 

Do you have central boiler for water and heat or individual units?