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

How much profit you make depends largely on your targeted clientele and your property management. 

Good points I try to target a price range basically a starter  home  that is affordable in  A,B area . 

For example the license should not only have a cost but also require at least some compliance training targeting some of the most common issues/complaints.

Areas like Aurora, Arvada, and parts of Lakewood or Westminster can be good places to look, depending on your budget and target tenant.If you’re looking for a base hit rather than a home run, focus on finding a property where the numbers work reasonably well as-is—cash flow might not be huge initially, but if you’ve got room to add value and refinance, you’ll build equity to reinvest.

The area is a little far from town and is on a big lot in the country so it targets a specific renter.

Hi fellow BP fans,Considering mid-term rentals (MTR) for my single-family home (near two hospitals, targeting traveling nurses/doctors).

I believe the best way to go about this would be to use your other metrics to find an STR target market that you believe you would like to work in first.

Perhaps based on your target market? 

If you're expecting property owners to sell their home to you at a discount, you'll need to earn their trust - whether that be by demonstrating a successful track record with purchasing/selling similar deals OR by meeting them face to face and separating yourself from the dozens of local investors and realtors.Lastly, I'd recommend searching past posts related to this topic as well as checking out books related to your target investment strategies.All the best!