Quote from @Drew Sygit: @Aaron Raffaelli we're also in Detroit area, so let us know if you need help with anything.Edit to my last reply:I just a saw your post from yesterday talking to someone about the Classes you can expect around detroit, and that did help me get a better understanding, but it did bring a new question to mind. 

For your question, as far as I understand, the city of Binghamton doesn't allow STRs, but a lot of people do them anyway.

However, I also understand that lower housing cost may saturate the rental market. 

There are different things to know and understand.

Simple standard sales process."

The painting should be completed within three months of the move-in date, and the Lessor will inspect the work to confirm it meets these standards.”This implies that the LL gets to determine that the paint job meets his quality expectation.”Per the mutual agreement between the Lessor and the Tenant, the Lessor has agreed to reduce the monthly rent from $3,200 to $3,100, allowing the Tenant to repaint portions of the house at their own expense.”this is not as clear as it could be, but could be interpreted that the rent is $3200 if the tenant does not paint the areas that the LL specifies to the quality that meets the LL quality expectations. 

I understand that you could have good cash flow in a class C or D but there is no growth and vacancy rate might be high and less cash flow or break even in class A or B area but there is growth.

I hope that makes sense as i'm trying to better understand how to go through this process the right way and increase my chances of approval. 

I'm currently researching the market, trying to get an understanding as to where these different areas are located in the cities.Any indication is welcome!

If you have a good insurance broker, you should be able to use a more standard policy though.