After that, it goes up to 5.875 and stays there!

Until then you are supposed to stay at the base rent levels that the units are registered at the time you purchase, and only increase by their guided annual inflation numbers.

The ticket to this is you have to stay diligent.

Sad that NY isn't taking advantage of expensive hotels to get most of the US traffick to stay on US side and just do a day visit to Canada side and come back.I don't know why small towns change their STR rules and make restrictions.

The ARV was believed to be around $235k so my agent told me to try to stay all in around $176K.

Yes, they are getting higher than market rent for that specific Neighborhood, but they also have a hard time finding a S8 tenant that wants to move into and stay in that Neighborhood.

Staying with that example, I understand the operational costs and all that fun stuff.

When tenants stay for ten years, it's usually because their rent is well below market rates.

There are more complicated strategies to maximize larger listings that involve having like multiple listings for same property and do individual room rentals when it is slower and then for larger length stays, larger groups, and more desirable dates you'd book the whole space, but I think its easier to just do two separate. 

Stay focused and close on the property, do not let an out of the blue crime destroy a future REI and cash flow.