It can be severely reduced with mediocre property management or creamed with risky deadline debt.  

He had an ice cream cake and received many things dinosaur for his anniversary.  

I had the cream tile in 12 and 6, and told the contractor to lay it in a pinwheel.

I thought a company like that would just take the "cream".

So, the question for me is always, how many years of STR cream am I most likely to get before I have to downgrade them into LTRs.

And if you aren't part of the CREAM group on Facebook, there are some great people in there too.

I see a real good opportunity for a lawyer that wants to build their practice filling the void that our lazy ineffective trade association(s) have left us with 

How much of that would you shave off for them and how much would you keep for themselves?

I am in @Chris Clothier  camp on this one.. a measure of a rental property in a given market needs to be done in year 3.. with a report on year 1 and 2.buying a rental and reporting rents for the first year is quite misleading.. as the first tenant is brand new the house is brand new.. and 80% of the time or more the first year is a cream puff  LOL.so for those that watch along and say hey I am going to see what happens in the first 6 months and if its good I am going to jump in.. well that simply is not enough time in this business to fully understand a property or an area or PM company.. we are all rock star's first year or so.Chris often mentions those that given one year rental guarantee's  he will say  ya ask them to guarantee year 3..

I will say there is one thing I strong ly disagree with Renatus teaching which is to offer what ever price you can to get the property under contract and then nickle and time during the due dilligence to get to the price they want (good luck trying to shave off 50k).