I think there's going to be a serious thinning out of STRs because of the overall market and interest rates, and people just getting fed up with the platforms, unless one of the newer no/low fee platforms takes off. 

Low rents attract low-quality renters that will eventually cost you even more money.They are on a month-to-month lease.

@Eric Lowe Here's an article with cost segregation FAQs.

I moved from the SF Bay Area to live and invest in Reno, NV because of it being much more landlord friendly, low property taxes, close to Northern CA and Lake Tahoe, strong appreciation, and I understood the market after speaking to a bunch of people and feeling confident about the future here.  

Quote from @Monish Anand: I'm a fan of the low prices and my plan is to STR since I currently run a short term rental business.

That $1400 rent actually makes sense given the low purchase prices.

If salt lake city is a low cap rate market then its impossible.

The current owners have extremely low occupancy and are open to selling.

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I would not make that statement, as not every deal is levered to the tilt - I know some deals that have very low leverage.