With current prices and interest rates, I would not attempt to jump into the STR game in a busy market unless that sub-market is showing abnormal YoY growth OR you have a solid plan to perform in the top 10% of current listings in that market, assuming the revenue pencils out.

But once I am done building and my annual revenue lowers  Be the bank is our play.

In respective, I would say create the value (increase revenue, decrease expenses) and then after you do that call a bunch of lenders to see how they would value the property.

Loan amount left is $132,000.If we list it, we can sell at $205k and assuming 8% closing / realtor / concession fees, the revenue would be $188k. 

Vacasa ranked us the top place to buy a beach property last year & we consistently hit most of the top lists for affordability & revenue potential!

I had  client leave this winter and I didn't have a future booking compensation clause so I lost all that revenue for the effort.

And somewhere along the line, while waiting for the make ready or the new tenant, vandals rip and strip the vacant property and now, the $1500 make ready is a $3,000 to $10,000 renovation  . . .So on your cheap properties with high revenues - PLEASE PLEASE PLEASE bank that rental income because maybe not next week or next month, but sometime in the next year or two, you may have to replace the copper plumbing, copper wiring, AC Condenser unit - anything that had copper in it and also need to replaced and everything damaged in the process needs to be fixed.

Often times they will have properties in the same town/area and can give you much better revenue estimates than those online. 

Recalculate your NOI by subtracting costs from revenue.

Simply listing on AirBnB and VRBO and hoping for the best is no longer a successful plan for those who are serious about maximizing revenue.