Here in my neck of the woods of the rural Northeast I suspect many newer STRs investors are about to find out what occupancy looks like when there’s 2-6x more inventory, rapidly-increasing regulations, and small towns worried their “character” turning to a new industry of site scrapers to auto-enforce local ordinances/regulations on occupancy caps and others. 

I have been neck deep in books, forums, and podcasts learning as much as I can in order to make my first deal.

Maybe there are different rules in your neck of the woods but here in Colorado also in WI, TX, and MN it's 70% of market rents, no leases required.

You will find all of this easier if you have explored the neighborhoods, you have muscle memory enough to spot a deal when you see it, and you have made some connections with great lenders, contractors, etc. to aid your clients before, during, and after transactions. 

Regarding shared septic, in my neck of the woods it's not a problem.

I believe KSL classifieds also extends up to your neck of the woods.

In my neck of the woods ie:  Albany NY home purchasing is still very competitive. 

I may have missed it so I did not see what market you are in, but judging by the price to rent ratio I'm thinking its somewhere in my midwest neck of the woods.

Message me if it's a deal I may be interested in your neck of the woods/vacinity.

@Michael Paling"Several cracks in the drywalling" makes the hair on the back of my neck stand up!