You might want to check out listings in your neighborhood to get an idea of the going rates and what amenities other hosts are offering.

I'd say most people in my neighborhood rented for a period before moving in.

What is the $1,700/month based on, and which neighborhood is this?

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

Happy to help. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

The last thing you want is to acquire an STR deal that looks great on paper only to find out that the neighborhood you bought in does not allow Airbnb. 

When you have a good cash on cash from day one, it means that appreciation won't be that great.There are many other factors to look at as the neighborhood and the age of the property those are going to give you a better undertanding on future growth

However, the success of your project will depend on factors like location, renovation costs, and market timing.Many investors have found great success by focusing on high-demand neighborhoods with strong buyer interest.

I would be happy to help!!!