But really you’re just creating a second job for yourself and one that doesn’t pay very well if it even is cash flow positive at all 😆I used to buy houses for STR but now that I’ve got several STRs up and running that I bought many years ago, I stopped buying STR once mortgage rates went up and housing prices went up.

My biggest piece of advice would be to find someone who is in the position you would want to be in 10, 15, or 20 years and meet for coffee.

As we continued to scale, we eventually added a positions to start taking some of my wife's responsibilities. 

Rental Market Trends: Is this zip code trending positively for investors looking for cash flow, or should I expect stagnant rents and challenges with appreciation?

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.

There's no way I can keep the house above water with that rent let alone consider any positive cash flow...so I need them out!

With some changes to the management structure and leadership, I believe we can significantly increase the revenue potential while providing a positive impact.

Fatal mistake to buy that on the forward curve.My recommendation would be to get out of this position; the STR is in an extremely oversaturated market and the underlying asset is a clone of many.

I have built in the past and I do not understand how anyone can build a house for 250k that will last.As an agent I focus on high end relocation clients and many are positively surprised by the build quality compared to the south.

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