Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I agree that DealCheck (or the BP calculator) does not provide enough tools or functionality to analyze those types of transactions (yet).But I would argue that it does a great job at analyzing more traditional buy & hold SFRs and multi-families, as well as flips and rehab projects. 

The direct booking features are also fantastic.Customer service is solid, and Hospitable is constantly improving.

Just to beat a dead horse, we could see a recession in the future where you and/or your spouse lose your jobs.

I have not been impressed to date with Suncoast PM and if nothing improves I'll be looking for a new PM when agreement term expires. 

My piece of advice would be to research emerging neighborhoods and focus on areas with strong job growth and infrastructure development. 

You want to be able to demonstrate that your intent in purchasing, subdividing, and improving was to hold for investment use. 

I have done BRRRRs in Milwaukee for a decade+ and if I am not on the job 2-3 times a week, things go sub-optimal.

What drew me to Detroit initially was the potential for strong cash flow, but I’ve also seen appreciation in several of my properties as the city continues to improve.

I recommend researching the average appreciation over the past 10 years in your target area to get a clearer picture.As you know, in real estate, ROI comes from multiple sources: Home Appreciation:  Reno Appreciation: Value added through renovations or improvements (usually just in the first year).