In the 3- Star property segment, price declines were less pronounced, falling about 15% from the peak where deals once traded for approximately $210,000 per door.In addition to asset quality, investors adapted their approaches to stay ahead of rent growth, leading to noticeable shifts in sales volume rankings.

The 80,750-SF grocery-anchored neighborhood center, which traded at a 6.5% cap rate and was 92% occupied, has had The Fresh Market as its anchor tenant for the past 12 years.Higher up the pricing spectrum, unanchored and open-air shopping centers may see cap rates above 7% and occasionally push into the 8% to 9% range as specific market and quality factors influence each transaction.In the open-air shopping center segment, Nuveen sold the 1 MSF Fayette Pavilion to 5Rivers CRE, a private buyer from Houston, for $134 million, or $128/SF.

There is, however, if properly managed, a distinction between building reserves and funding depreciation.Oh, and when you sell the property, unused reserves become ordinary income, and you pay the hit. 

I heard of delivering payout in segments after key parts of the rehab are completed, but should I hire a project manager or be on site?

While I agree that I think there is a segment of wealthy individuals who pay good money to keep themselves "hidden" --- whatever they do. 

People who don't live down here couple these together but there is a lot of history and they have distinct names, so it's good to know the differences when investing down here. 

@Nicole LockwoodNo real distinction between buying an STR property and just ... buying a property in general.

Make sure they are experts in your market segment too. if you want to do low income housing, then a great manager who focuses on B class properties isn't going to work.

Educating someone on how you do things can help align them with your segment of the market.

Let's learn and grow together in this fascinating segment of the real estate market!