Keep in mind that a number of the larger, more expensive units on Okaloosa Island are managed by large vacation rental companies like Vacasa, Southern, etc OR by more sophisticated owner-managers who have their own direct websites. 

And generally, no sophisticated investor would make a go/no go decision based just on the return (and without knowing enough to closely examine the risk as well).

My portfolio is expanding and I feel I need to make a switch to a different software (I am currently using Innago) which has worked well for years but is missing some of the more sophisticated features - there is no mobile app for landlords so it's hard to manage on the go, there is no accounting functionality built in, changing lease terms/renewals can be clunky. 

The other is far more sophisticated, like could be the subject of a future Dateline episode sophisticated.

@Peyton LaBarbera you can be profitable in real estate without using either formulas, but you can’t be a sophisticated investor without using at least IRR.

Everyone has different perceptions for B Class and this is mine based off our market in Toledo.1) Mix of investor owned and home owners (Last few years leaning more toward home owners buying)2) Infrastructure supporting tenant and home owner demand (Car manufacturers, ProMedica hospital, Washington Local School District, Toledo University, etc...)3) Homes well kept, yards mowed, none or very few bordered up homes, cars with wheels, pride of ownership, lower crime, no riff raff roaming the streets lol4) All tenants employed and submit rent payments online.

I would look at other strategies too to open your mind. we do new builds single family and multifamily for investors here in columbus with 20% equity at a min. that strategy takes like 5 calls with investors just to get them to wrap their mind around it because it's sophisticated.

My thought process was that I was dealing with a sophisticated individual that understands that a company needs to be profitable in order to be able to offer a valuable service.

Firstly, I commend you for having this perception at this point in your journey.I would state that at your working age you have considerably more longevity and runway and time for compounding returns. 

The non-accredited investors must still qualify as sophisticated investors, loosely meaning that they need to have prior business and/or investing experience that qualifies them as competent to understand all of the risks associated with investing in a syndication.