@Lucas Schlund not seeing oversaturation in Metro Detroit, but there is some up in the Traverse City area - which implemented STR controls.Yes, it's always a good idea to buy an STR property that you can at least break-even if you have to turn into an LTR. 

LTR, MTR and STR work in most larger markets (~top 30-40 cities by pop, or be proximity to metros/attractions/employers).

The tenant's rep split in the Austin metro market is usually 30% but that varies as well.

.* 1.5 miles away from the new billion dollar Inova Landmark project which will complete in 2028* The Duke Street corridor from Landmark to the King Street Metro Station has the highest ridership in the City and will be under construction in 2026How did you find this deal and how did you negotiate it?

Negotiated with a residential agent and purchased from a large capital group in the Des Moines, IA metro.

I know cash flow can be challenging in Texas but if you are anywhere near break even it's a win as long as you're in a good area because values are only doing one thing over time in that DFW metro.

The October 2024 report from the Austin Board of REALTORS® (ABoR) shows stable housing prices in the Austin metro over the past 12 months.

Negotiated with a residential agent and purchased from a large capital group in the Des Moines, IA metro.

.$100k for a 2/2 is high for the City of Detroit, unless at least Class B.So, you should take time to understand the NEIGHBORHOODS in the City of Detroit.You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider: https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorseContact us with any other questions:)

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)