We’re based in Indianapolis, and during the winter months, we transition some of our STRs to MTRs to try and keep up occupancy rates.

The current owner has to drop down to 12 or less till they get the sprinkler system in and engineered plans submitted to the county. 

Now the interest rates.

The first year was tight because of higher interets rates, but his tenants effectively covered about 70% of his living costs.

We use a custom spreadsheet and DealCheck to break down key metrics like cash-on-cash return, cap rate, and debt service coverage ratio (DSCR).

Rents and property values rise pretty steadily in our market at a rate about 2-3X the national average.

However, it can come with extra costs for setup, maintenance, and potentially higher interest rates on loans.

Wondering if the vacancy rate is higher in the area as it seems more advantageous to just buy a house and pay mortgages rather than renting.

You can also sell them on sites like paperstac, debexpert or others as well as brokers like Mission Capital, Rams or Phoenix.Depending on quality of paper and interest rate will determine sales price - also I would say self servicing can have a negative impact on the sales price as the major players in the space are not fond of self servicing. 

But, understand they will all have slightly different pricing as well, and when you "layer risk" rates/terms go up.