With Michigan having harsh winters you really only make money 5 months out of the year with STRs.

I suppose for me the risk aversion comes from being 1800+ miles away and the age of the homes in a place with harsh winters.

A rent increase should not create drama.

There are some third party management platforms to assist with managing this if you don't want the drama, ie padsplit. 

No gunshots, but a few alcoholics.A "B" property in a nice area goes for a 7-8% cap rate.I haven't seen any "A" properties go through the market recently.At the bottom of the barrel, a "D" property can be at a 15-18% cap or more, but who wants that drama?

Here are some of my thoughts on the spaces with the biggest potential for "drama".Kitchen - I house hacked with 4 people in two different houses.

Data, not drama, should be your focus.

I know this probably sounds harsh, but not nearly as harsh as the lesson you will likely receive if you carry out your plan.

Yves, Zip codes outside the city proper, if you can find something, are less drama and in path of growth (appreciation).

Oh the Drama of it.