And the ability to adapt is critical: we have seen so many STRs pop up in Milwaukee over the last years, that only the best thrive.Speaking of it: next week at RPA-CON we have a session about STR vs LTR.

But if they are not already furnished, the answers above are consistent that having a good team on the ground (Realtor, PM, service providers, etc.) is critical. 

You will find many locations in the Midwest in the list along with some critical statistics.  

Our thesis is that there is a critical shortage of inexpensive but quality housing in the US.

It's critical to to get references and work with BB&B-accredited and fully insured companies when this amount of money is involved.

One, you really have to choose well- both the location and “the lease” are super critical to long term success.

Do whatever you’re most comfortable with and ignore the naysayers and critics.

Criticizing a new investor for being new seems silly.

They seem very similar in that they handle emergency and non-emergency maintenance calls and, critically, even dispatch contractors/service-people with minimal intervention from me.

I think joint leases, over-communicating, building rapport, establishing expectations early, and having A+ locations have all been critical during COVID.The only major difference I'd offer is that we do require guarantors for each resident.