Over the last 5 years, markets like Memphis and Detroit (where I have been investing) have performed on par with "appreciating market" like Seattle and the Bay area.

@Anthony Wilson How's the 4-unit in Detroit performing?

You should be asking what markets may work with a particular niche or idea.Also, in my opinion, STR's that are generic won't perform well for the most part.

You're seeing the truth in your portfolio performance. 

(There is also a fourth sub-tier of A+++ properties which includes your awesome lakefront homes and 7+ bedrooms at 700k - 1 Million. ) In the Poconos market, we have been seeing homes that are smaller or larger be the better performers. 

It can really work in any market - sometimes renting by the bedroom can out perform LTRs in several markets too.

It serves as the foundation for all successful deals.The first stage in analyzing a possible investment is to perform rigorous financial due diligence.

And our best performing 1 bedroom, 1 bath condo hardly any vacancies until recently. 

A good PM can steer you to the areas that perform the best and are in the most demand.If you rely on a sales agent, they may not have any idea what makes a good rental and could steer you in the wrong direction. 

Second, the brokers who perform these are often brokers with a lot of time on their hands, so the pool of brokers are the LEAST successful and newest brokersThird, the brokers are not educated in the proper METHODOLOGY to perform a valuation.Look, if you as a broker run some comps where the subject property is a SFR in a “cookie cutter” subdivision and the subjects age, style, amenities, condition, are similar to the comps being used, you’ve got a fair shot at a pretty accurate valuation.