I must be because that is crazy negative cash flow.  

This has had the dual negative effect of artificially inflating prices and putting buyers in precarious financial positions.In Worcester, we have seen properties with $6k a month in rent sell for as much as $720k which has directly contributed to a run-up in prices which has priced out most first-time buyers.While the intention behind the Fannie Mae 5% down program may have been to help first-time homebuyers, it’s essential to consider the broader impact on the housing market and buyer stability.

Hey Andrew,Thanks for the reply, I should have been clearer.When I say affordable housing Im referring to generally making homes more affordable, nothing to do with the legal concept of affordable housing. 

Even with all those issues seems like a great deal as you said  I purchased for $105k and put about $80k into repairs/reno, I did get some rent along the way and sold for $180k and was out of pocket for the commission and closing... net negative about $8k. 

Littell expects the slowdown to deepen, with annual appreciation likely to dip further into negative territory by year’s end, signaling the end of rapid price growth in commercial real estate.

In normal markets we try not to raise rents more than $100 per year but in aggressive markets we have raised 20% - 30% and in declining markets we have had negative increases.

That may negate the benefits of STR. 

Personally, if prevailing rates are 6% and you are buying at a 5% going in cap-rate, even if you buy your 6% down to 4.5% for the next three years, you are still in negative leverage.3.

You could borrow a second against the $400k of equity in your property - and accept short term negative cash flow to earn a lot more on the great deal you don't want to pass up.  

I've not looked at what I could get for rent ahead of time, like you have, but it's a large apartment with 1 bedroom, 2 other rooms (office plus bonus room, etc) plus a brand new open concept kitchen, with its own separate entrance and garage access.