that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

With 20 years experience managing my sfr and as a property manager for a broker and a bank, this switch into ABNB has been a learning experience.  

I have a feeling just starting out my home is not going to get much exposure on sites like air bnb or vrbo until I get some good reviews.If anyone has experience in this market I would be intrigued to hear how best to manage my new STR.

I’d be happy to connect and share ideas on building a solid plan, like assembling your CORE 4 (agent, lender, property manager, contractor) to help streamline your journey.

A lot of investors who succeed in EC know the tenant base very well and a lot of them self manage.

@Alison EvansI could not imagine managing 48 doors!

- Who will manage it?

Yes, I am looking for an online platform to begin self-managing too.

Last thing, I would strongly consider consulting with a knowledgeable property manager or attorney once you have a copy of the current lease and all of the facts.

Cash flow can be great if you manage it well and keep occupancy rates high, but factor in the added costs of management, cleaning, and potential vacancy dips.