There are vast swings depending on the price-point and target audience that is most likely to frequent your STR.In general I see locations in the "hot spots" of the urban core leading to one norm in terms of occupancy trends and those near lifestyle locations and hospitals leading to a very different set of norms.  

The fact that MMPartners is the developer on that project is compelling.

In fact, cap rate only matters in core deals where there is no meaningful way to increase value.  

I’m in a constant battle with staying in state or going out of state, due to a multitude of variables (e.g. minimal experience, missing pieces to the core four, etc).

@Craig Myers at its core, you have the right idea.

Follow these tips and you'll probably be making a pretty safe investment.Don't buy in the roughest neighborhood in the urban core.

At that price point, you're looking at neighborhoods a little further out from the core of downtown.

Newer replacement windows, new exterior doors (originally the building used hollow core interior doors with a screen door as the exterior).I approached the owner of next door sometime in 2019 to see if they would be interested in selling. 

The core concept I took from the book was how to look at things and really decide if it is an asset or a liability, and I personally think it is a great idea and really had an impact on me. 

One of the biggest concerns I have for the town is the lack of industry and businesses that will compel people to move there.