I'm just hoping someone with actual knowledge of it can provide some information that offers an alternate explanation.

You can do whatever you want in terms of bending for the tenants and trying to provide "great service,' but the truth is you receive no credit for it and will be the evil landlord at the first repair that takes too long, late fee owed, alternation denied, etc.  

Just had my current LT tenant commit to another year so we will reevaluate again towards the end of 2025.GregI was thinking you can alternate between STR and MTR to maximize the ROI.

What are some good alternatives?  

The properties are listed on MLS, the owner is a business connection from an alternate venture. 

Exercise caution and explore alternatives before considering them

With my last (2 years ago), I had to take an alternative exit strategy to avoid a loss.

Given the competitiveness in Scottsdale, exploring duplexes or triplexes might be a more feasible alternative to larger multi-family units.

But alternatively, you can hire a manager if the home is big enough to support their salary.

A recent article by BP: "Top 5 Alternative Investments for Real Estate Investors in 2024," which was sponsored by "atminvestors.com," listed the #1 Passive Investment opportunity as ATM investing (of course).