The quality and age of property is important too.

Grand Rapids is definitely a good market for multifamily investment as it has also seen rent growth unlike other parts of the country for multifamily.It is also a more affordable place to invest compared to other parts of the country and Grand Rapids is generally landlord friendly.A quality property manager is essential for an out-of-State investor and there are some good ones locally.To Your Success!

I suspect in many cases the frequency of ownership change is an indicator of the quality of the property. 

Are their listings detailed with good-quality photos?

What you consume, mentally and physically, you will become.Your quality of life can be a direct reflection of your thoughts.

Probably not.Consider adding amenities to attract guests and raise your prices to fit that level of quality, but keep your guests number limited to less.

If there’s a housing crisis where you live I would expect you can get it full of good, quality tenants in about 4 months.

@Xavier Aliche Most property managers operate the same.Your questions should center more around the quality of customer service. 

Does anyone have any recommendations for quality contractors?

What can be done is switching to more risk averse investments (property quality, location and financial structure) during the later stages of a cycle.