i think those are genuine factors. 

Have you figured out if you plan on using it and the enjoyment factor of owning STR?

There are more factor to look at than the cap rate.

@Pete TarinCheckout the data on vestmap.com, it allows you to search any location and get the DISCERN factors at a glance including income, crime, schools and neighborhood indicator stores.

The gross amounts usually include cleaning fees, which you then pay right out to your cleaner, so factor that in when you figure out your net. 

I know that sounds crazy, and you and I would never think to do it, but people do.At the end of the day, inheriting tenants is a gamble and risk you need to factor in.

The biggest qualifying factor is positive cashflow.

However there are more factors as well.

Those are not the only states but they have been a very Hot market lately.You will find a better price to cash flow ratio in those states due to multiple factors. 

Appreciation is a bit riskier since it depends on factors we can't always control, such as school levies passing, business success, crime reduction, etc.In my opinion, it’s hard as a newbie to jump into appreciation properties, as they require a lot more initial capital to acquire.