I and another investor bought 2 properties on the same block and started making them cute, then the neighbors came down and thanked us for making the neighborhood better....the whole block started to take better care of their properties.. 

All they care about is the passive cash flow today.

I dont have regrets just did not care for STR  business personally. so we sold.But we have Mid term fully furnished rentals and I really like that one.. start off as a few months and end up staying a year or more and at close to double the rate and A class tennants..

But you’re right, that’s about the average but depending on how nice the home is, whether each resident gets a private room, and the level of care/specialization, will all factor in! 

It was a hard lesson that nearly cost us a $25,000 deal, countless hours of effort, and more sleepless nights than I’d care to admit.We had a prime deal lined up, with a buyer who was eager to move forward.

They dont really care what you are going to do with the house, they just want their 5k or 20k or whatever.

Also, be careful if you proceed with future analyses like this.

Bonus Tip: take extra care to get 5 star reviews on your early stays.

I love out of state investing, just be careful with the location and the asset you buy! 

Tenants and tenant attorneys don't care if you own 7 or 700.