It’s important to look at the merits of the individual deal at face value, and not get side-tracked by whether it’s “off market” or not.

I've read in several places that oversaturation is occurring in most STR markets and that profitability isn't as great as it once was but those same sources also keep touting the merits of owning a STR when done right. 

Both have merits, and I think a mix of both is wise.

I really don't think that any rule of thumb should be presented to new investors as the golden rule to investing, instead they should learn to evaluate each deal based on its own merit under generally accepted appraisal methods, which is not rocket science.

A sub-2 is not always a last resort, before our mortgage melt down, they were common without such a slant, as we have had a rash of foreclosures there certainly has been an upturn and I understand that assessment, but that's like saying all black guys play basketball.I just posted my outlook and approach which has proven success, each deal must be viewed on its own merit without predjudice, balancing the issues between the parties while making it profitable and equitable for both.Thanks again for your reply and it is an opinion, :)

I've seen some great opportunity in single family residences in the southeast quadrant of Seattle that merit potential for cash flow.

I agree that every deal should be analyzed based on its' own merit.

They were jumping in and buying anything without regard to the merits of the deal.

This stands on its own merit as a retirement savings plan, but unlike a 401(k), you don't have to wait until age 59 to access the wealth you have accumulated.

Analyze each property on its merits and decide accordingly.