I don’t consider myself a newbie however there’s always still something I can learn. :-) I don’t have a coaching program I’m selling either.A little over a year ago, I started a thread about who was investing in their health.  

Yes, valuable lesson learned.

That way you can be reasonably sure that appreciation would continue or at least be relatively steady in the event of a downturn. 

Sure don't do the renovation, I only do renovations that project a return of 2x the cost of the renovation.

I'm looking at a duplex to BRRRR if possible, but I'm not sure of the area myself.

Start connecting with local investors or attend meetups. it’s one of the best ways to learn and get insight.

Sure. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

You seem to know a lot about STR, could I "connect" with you to maybe learn a bit more about it?

@Kwanza P.Here you can learn more about non-recourse loans:https://www.biggerpockets.com/member-blogs/2810/46115-real-e...Here is a list of lenders offering non-recourse financing to Solo 401k:https://www.biggerpockets.com/member-blogs/2810/50272-list-o...You protect your property by purchasing insurance.