-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Seek guidance from financial advisors or real estate experts if needed, and don't hesitate to continuously educate yourself about the evolving landscape of real estate investments.

It would be great if your rental could also work financially as a long-term rental if the STR market changes.  

There's always typical question like contingency etc etc, that's easy to solve.  

Being a responsible person has nothing to do with the financial calculation for rate of return or cash flow. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

It's mostly Class A properties, a few Class B.You may find the below copy & paste info useful in addressing your question:----------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

When I began direct-to-owner marketing for multifamily (12-40 units), I realized it usually takes many months and touchpoints to build rapport with most sellers where they are willing to really open up about their property and financials. 

The question is mostly a personal financial planning question and it depends on your preference and what balance of risk and access you'd like and would be comfortable with.

This has left us with significant carrying costs and financial strain.