First there is no reason to buy a Townhouse "all cash" instead put 40% down and reap the benefits of an extrenly low rate, No PMI and the option to escrow.

Plus funding is readily available and deals need to mature a few years before profits emerge, so why would a turn key provider not just keep a good rental property.Our inventory is so low in Milwaukee, that sellers don't have a reason to give a discount. 

I think there's going to be a serious thinning out of STRs because of the overall market and interest rates, and people just getting fed up with the platforms, unless one of the newer no/low fee platforms takes off. 

@Eric Lowe Here's an article with cost segregation FAQs.

Quote from @Monish Anand: I'm a fan of the low prices and my plan is to STR since I currently run a short term rental business.

That $1400 rent actually makes sense given the low purchase prices.

If salt lake city is a low cap rate market then its impossible.

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Screening is definitely an area I studied up on beforehand, and having a large graduate student population to choose from definitely gives me more confidence.

The suburbs have a number of good PM companies, but due to the low price points and rents, and the nightmare of dealing with the city and courts there, most of the good property managers in the general area won't touch Baltimore.