@Richard Hoyte When calculating your expenses and income you also need to allow for things like lawn care/snow removal if applicable as well as set aside an amount each month for repairs and maintenance, CapEx, and vacancy.

Single family homes have the benefit of the tenant paying all utilities, taking care of all landscaping/snow, and lower cost replacement when things go wrong (a roof on a single family home is a lot less then on a large multi).

Once you figure out how easy it is to acquire more and more properties with OPM or to recycle the equity in them to buy more and more houses without any out of pocket cash, the mail box money snow balls.

Snow: Hello, I am Duane and I run EP & AS Property Management.

He works for probably 15 big investors/companies and probably at least60 other people, does snow plowing and lawn care and makes time to have most of Sunday off with his son.

I don’t get snow birds because my house is too big.

Snow: Quote from @Tony Savage: Just so I'm clear Duane:You want 630k from a private lender?

He's gonna be complaining about how the lawn and snow are done.

You are on the right track but remember each specific STR market / local area is going to have some tweaks - one thing I noted is that for the markets you are looking at can vary with temperatures - some different expenses/planning for areas that can have winters (snow, etc) that wouldn't be standard in other markets

You can snow ski at Mt Humphreys near Flagstaff one day, and tube the salt river near Phoenix the next - Either very hot, or very cold - not a lot of in between unless you want to live more rural.