For me, in the LTR game, it's tenants. 

Yes, it must be the rent prices, but also there seem to be a lot of 1 or 2 people travelers needing a small place for a short time.

Most people are refinancing a BRRR because they are in short term debt (like 12 month hard money used for purchase +rehab financing) or own the property free and clear (they bought all cash) and would get a higher return on equity by leveraging the property and reinvesting the cash out proceeds of the loan to scale the portfolio. 

Collections are where the game is won or lost, and without proactive management, even the prettiest property can bleed money. 

Real estate is a relationship game.

It’s important to note that short term rentals depreciate differently than long term rentals.

I have looked into the Pittsburgh market and have been there before, but just once for a short trip.

Try again in 2026.It's a long game.

I asked them, what do you usually short sale properties at %?

The property that I have, my family owns is not currently an Airbnb or a short term rental.