Have you looked into the Padsplit model? 

Many of us regularly see aggressively modeled exit caps...and the +10 basis points per year rule of thumb is arbitrary. 

The investment model changed from what I understand, instead of investing in single STR, they created a fund.

You're looking for an AVM "automated valuation model".

So it's hard to recommend markets without knowing what you prize most, appreciation or cashflow, and what rental model you prefer as well (i.e., LTR, STR, MTR, rent by the room, etc.).

The numbers in there are for a specific project I did years ago -- for example, where I list $300 for doors, that's probably the replacement of 4 interior doors...or perhaps one exterior door (I don't remember the specific project that I modeled this for).  

I've been using a hybrid model for almost a year now. 

I’ve looked at it in the past and I am confident I can find other opportunities with a better ROI than the HR model.

I was a warm body in a model home selling spec homes in what turned out to be, in retrospect, a really crazy real estate environment.

His steps are a decent base model to be expanded on and altered to individual situations.