STR market is dieing unless you can play in the 750-1.4M$ price point then there is opportunity, most are going MTR or LTR, we manage a vast amount of properties and see clients switching from furnished to long term unfurnished, lots of data around this...

Waiting for rate drops is not my idea of playing the game in a smart manner. 

I generally tell clients to expense anything under $2,500 unless there are other factors at play that may change that decision. 

Truth is nothing except maybe a brand new build is going to be 100% permitted likely.

In that case there's definitely more than just numbers that come into play.

It seems that Dollar General, although they decreased # of stores open this year, are a stronger brand than FD/DT.

Long term fundamentals are great, but personally I'd wait for a few years and see how this multifamily glut plays out before doing anything.

If you don't fall under that category you are really playing with fire. 

Brand new sod was installed on the day we closed escrow on the property.

Every inspection report you receive on any property will always be a long list of items that need to be addressed, even on a brand new build.