It's very smart to figure out your LTR metrics as a backup, and that should give you the confidence to try out STRs no matter your findings!

@Elias AzoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

I can quickly and accurately get an estimate of what just about any renovation or project will cost and sometimes I figure out a better way to do a project that saves money.

You want a figure where you don’t care about the stock market going up or down.  

If you're sending mailers, this could mean a 5-figure investment just to snag a couple of qualified leads.

When you figure out money flow, count all costs, and know the laws for renters and owners.

And now I own a successful 7-figure rental portfolio.

@Allen Zhu @Bradley BuxtonRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Typically it takes sticking with one thing over the course of a long time to figure out the intricacies for that specific sector.Just my suggestion. 

@Clemens GeorgRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.