But when I check public records... not so much!

I would have saved few thousand dollars in inspection fees and appraisal fees if I had known that and I had a friend send me detailed videos.I'm not sure if this information is available in all counties but where I bought in the Indianapolis metro area, I can look up property tax records.

My questions are:- is it worth investing there in terms of the safety of tenants?

Then, you need to keep managing your payments to actually have savings to make it worth while.  

So you are putting in various inputs/assumptions, like gross revenue (total sales prices of homes) less soft costs, hard costs, city fees, desired profit margin (i.e. 15% of gross revenue) = residual value (what the land is worth).

You can’t argue that it’s not worth the price you paid.

.- Furnishings and Decor: High-quality, durable items are worth the initial investment.- Insurance: Short-term rental insurance (beyond renters') can protect you from guest-related risks.- Licensing or Permits: Check if your area requires permits, as some cities have fees for short-term rental operators.Breakeven Analysis: To calculate your breakeven occupancy rate, add all monthly expenses (rent, utilities, cleaning, insurance, etc.).

@Jeremy Hartwig, I know this is a slightly glib answer, but property is worth what a willing buyer and willing seller can agree on.You can use cap rates, but admittedly those can be useless too, for similar reasons that Kevin outlined.  

It may not be worth it if your long term rent and cash flow are adequate.

I am not an attorney but I have studied this a bit so take it all for what it is worth.