Considering the current economic climate, where layoffs are happening every other day, and interest rates are going off the roof, is it a good time to invest in STR or wait for some time?

"That" alone (the age of it) may come into play soon, as most ins co's are getting very tight on the coverages and policies.Without seeing it, but knowing the climate, I would lean towards replacing the roof ... with a decent but not high end product.

In the midwest or in other colder climates move ins are tough in the winter so now that it's warming up we're seeing leasing traffic increase, so that's something to consider as well.  

North Carolina, boasting a thriving economy and attractive tax climate, features cities like Charlotte and Raleigh with high rental demand.

Nothing is passive and even US treasury bonds which are considered the safest investment require one to monitor the economic climate.

Here's an overview: TRADE AREA - 3 Mile Radius• 12 traditional facilities• 864,595 net rentable sq ft• 41,175 sq ft climate-controlled• 823,420 sq ft non-climate-controlled• 21.2 sq ft per capita overall• 1.0 sq ft per capita climate-controlled• 20.2 sq ft per capita non-climate- controlled• No boat and RV specialty facilities (although, all the facilities in the area have a portion of space designated for this and are usually maxed out)DEMOGRAPHICS - 3 Mile Radius• 40,786 population• 2.0% one-year population growth• 6.3% three-year population growth• 12,869 households• 37% renters• 26% multi-family• $44,627 median HH income• $123,150 median house value ($267,836 county)YELLOW LIGHTPros:• Climate control likelyundersupplied• Population growth is great• Good number of renters goodfor turnover and raising prices• Opportunity for boat and RVstorageCons:• Market may at equilibrium oroversupplied with additionaldevelopment• 2 facilities built in 2018 may stillbe in lease-up (yellow dots)• Low median house value andhousehold income - (This seems incorrect.

In a climatic health resort area deep in the Bavarian Forest, where the air is clean, there is plenty of nature and real estate is affordable. 

However, I wasn't thrilled with some of the assumptions they were making for new construction apartments in the current economic climate. 

The legislative climate in many states (like Colorado, where I operate) makes running a property management company akin to doing open-heart surgery on a row boat in the open sea with choppy water. 

It is costly to live in one of the finest climates in the world (assuming you were not lucky enough to get the small number of lower income units - like winning the lottery).