The fourth thing is to vette the property knowing liens against the property, zoning, environmental issues like wetlands, flood zone, availability of utilities, condemnation, code violations, and more.

I appreciate this post because a lot of people leave out this important element in RE investing. 

Finding the right, established team can be tough in itself and no matter how much due diligence you do there is a "leap of faith" element.

"Good Cash Flow" includes multiple elements.

I have made money on 2 foot strips along someones property.I have purchased environmentally contaminated parcels and made millions oh a $500 investment.

But even here, if the buyer and seller are dealers ("flippers"), then money damages could be awarded.My reading of the Lawler decision is that while the trial court found the Plaintiff had proven his case and did in fact award specific performance, the appeals court disagreed and found the buyer/plaintiff did not allege and did not prove he was ready willing and able to close (an essential element of seeking to enforce the contract) and therefore was not entitle to specific performance.

Maybe you have already addressed all of these but I'd start with figuring out some of these elements with the STR business before moving on to the next strategy, MTR.- The MTR strategy is great and you have the advantage of listing it with multiple different platforms.  3/2 will attract a certain type of of MTR client, one that travels with families most likley or displaced families, so your pool of applicants may be a little limited- If the long term play is appreciation, than breaking even sounds good.

Again, knowledge is the key element in this whole process. 

TH folks are much more eco-conscious and interested in down-sizing, reducing costs, being environmentally-friendly and in many cases, mobility.  

It is amazing how even the most minute element of power goes to some people's head and they get a Napolean complex about their supposed power.