However I don’t have any real data just a personal opinion.What’s your thoughts?

I own a LTR in central Houston that I think would be pretty successful as an STR based on the AirDNA data.

I had a project in Sanford FLA that was the historic district and it was a nightmare ( never again) after months of BS  thats what I had to do..

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Some of the national data sites have pricing suggestions that run both high and low.

For me, I specialize in data-driven design.

What I think you'll need to find out from lenders/banks/credit unions is how much historical timeline they'll need to review to support the valuation/income.

That's not ideal but it's manageable with travel nurses and other MTR tenants we'll be targetting.Thanks for the data @Eric Fernwood.

They can't assess all the subjective data like overall layout, view from the living room window, the dogs next door that bark all day, the width of doorways, size of individual rooms, quality of kitchen cabinets and appliances, etc.The best thing to do is study your market regularly.

Some might not be livable at purchase but 5k still seems cheap unless there is something off with the data. maybe the prices were reduced on unlivable properties due to back taxes being part of the deal for the purchase.