Just fat.  

Some areas in SW Florida are showing signs of over saturation, but this investor is showing great revenue and over 90% occupancy.  

Great post Mike, these fundamentals can be taken to any market.Understanding the traveler demand and needs, seeing where the market may be lacking (and avoiding where they are saturated), then catering to that market.   

I'd expect Cleveland to fetch a bit more even with more saturation.

I am wondering if anyone has any insight on which areas of Memphis to avoid and if it has been saturated as looking online it appears there are a TON of rentals up for grabs and wondering if that is due to rental numbers going down or if it is just a larger city that has more supply.

You should look to see how you can cut the fat and automate where you are able.

And, speculation in the Cincinnati market is not a great idea since we have not YET experienced any serious rollback of prices and the market is becoming saturated with apartment newly available.I think you have to get into the larger properties (16+) to find the B class properties with positive cash flow and those are typically hidden by pocket listings.

I think the market will get saturated for seller agents and many agents will want to cash in since that's where the money (cranking up buyer cost by selling to seller way over comps and market value for homes).

In Reno Nv demand remains strong, we are over saturated as so many are.

Make sure you consider not only what attractions are near by but also the saturation (or lack thereof) of short-term rentals.