Cleveland, Ohio is a great market to focus on for cash flow and specific pockets have gone up 2x and upwards of 4x in the last 5-10 years even!

Last year, on my 9 properties I had negative cash flow after accounting for mortgage payments, etc.

Verifying last 2 years of rental history very important!

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.

We stayed at a STR last summer with many homeless around it but it is also near some upscale hotels.  

For the last 6 months I've closed 5 deals. and 2 of them are from the leads captured from the software.  

So, let’s kick off this last chapter by learning how to squeeze every last drop of potential out of every property.Adding Additional Units.

Or lastly you could 1031 into passive Delaware Statutory Trusts. 

You also tend to get more frequent and better feedback than with an STR, if you treat your residents well.The last quadrant, unnecessary but not obviously so, is usually as a result of either converting an STR to an MTR or from remodeling above the standard needed.

Last, we have one outlier out of Lake County Ohio in Akron a 24 unit.