This clearly impacts affordability and valuations.

I can't speak for the other markets but Toledo is a great place to invest due to the affordability.

Most won't entertain STR arbitrage.

The problem is you can't afford to properly make repairs when you are dealing with the lower tier properties and go with the cheapest bids doing nothing but putting duct tape on issues that will become recurring or believing you are making the repairs correctly but use inferior labor and materials because its all the property can absorb cost wise.  

How can I afford to buy a bigger house while also renting out my current house?

I ask this because Buildium, also a RealPage company, can actually be more affordable depending on the door count and whether you manage on behalf of others.Buildium, like Appfolio, has different tiers of membership.

Can you afford to pay someone $40k per year to manage part of the business?

If you’re using all cash you can afford to make mistakes with underwriting, or during renovations.

So the added cashflow to property owners it they are willing to become the developer and increase density that tactic could help more owners stay than could otherwise afford to stay. 

This plays into the affordability issues for tenants by allowing them to live in nicer neighborhoods for less money, yet I get monthly revenue comparable to short-term rentals.I have also shifted my focus to buying better.