It requires patience, especially in the face of market fluctuations.

This strategy is great, but it fluctuates depending on the time of year, you probably won't live for free because it is more challenging since you are only Airbnbing a small space or basement unit.4) MTR - this is a good in between style of creative strategies since you can furnish a place nicely that would rent out on Airbnb but you want a long-term high quality tenant like a travel nurse or corporate rental that stay for 2-3 months vs. under 30 days for most Airbnbs.Combining strategies is the best way to go, ideally, you would find a property with a separate entrance or walkout basement, live upstairs in the one of the bedrooms, rent out the other upstairs rooms and STR/MTR/LTR the bottom unit.

Nothing really fluctuates too much.

Do the tax advantages go unchanged, or do they fluctuate with the profit margins?

Market research - landlord friendly states, economic fluctuations, rental demand, risks, which investing strategy2.

How can these cost-estimation principles be leveraged to create a more robust financial model for long-term rental property investments, considering factors like ongoing maintenance, capital expenditures, and market fluctuations over time?

STRs can offer high rental income and flexibility, but they come with management responsibilities, regulatory challenges, and market fluctuations.

Currently, cap rates for many 4 & 5 Star assets fluctuate in the mid-5% range, while 3-Star assets have broadly climbed toward 6%.

This number fluctuated depending on who and how many people will be living in the home. 

Pueblo Metro generally is more volatile than the Colorado Springs Metro, meaning that The Springs is more resilient to market fluctuations, and therefore in my opinion would be the smarter bet.