Also, setting up an S-Corp could potentially save you on self-employment taxes, but I’d suggest chatting with a CPA to weigh the pros and cons based on your income. 

If you pay two years' worth of property taxes in 2025 (January and December), both payments are deductible on your 2025 return, potentially reducing your taxable rental income significantly.

It really depends on your tolerance for risk and how much liquidity you want to maintain.Researching the Waterbury Market:Waterbury has shown solid potential for multi-family investments.

I found your post while looking for my own info about doing a potential rezone that would allow for future development in Denver.

What tools can we use to analyze the rental potential in other neighborhoods?

Has potential buyers shaky.

Its not easy and there is potential for multiple degrees of chaos and instability.

I have a hard money lender at 10%, who will amortize at 30 years, with 5 year balloon so a potential loan of $200k is in the works.

Purchasing a STR in a somewhat sketch area is a terrible idea and as others have mentioned, is going to open you up to potential issues. 

You're right that it's getting tougher to find solid cash-flowing properties ($600 or more) in Grand Rapids, but the appreciation potential of a single-family home or duplex in Grand Rapids would be much better than that of a mobile home.