Beachfront or properties near attractions tend to perform best.Mid-Term Rentals (MTRs): These are gaining traction, especially with traveling nurses and remote workers.

Let's look at your example of a roofer, assuming he owns the company.He has to pay for employees- they still get paid, even if they are not giving 100% effort.He has to pay his workers to go back for warranty work - effectively paying them to do the same job twice.He has to pay for equipment, even when it's not being used 100% of the time.- but the company he bought it from still gets paid.He has to pay for advertising, whether it works or not.- but the advertising company still gets paid.He has to pay for accounting services, payroll services, tax services, legal services, etc.- they all get paid whether he makes money or not.So, what's your point?

The type of rooms students would need or skilled temporary workers, not drug addicts and alcoholics. 

Specifically; rules, regulations and permitting procedure.

It’s inexpensive to provide but can make a big impact.Comfortable Bedding: Investing in high-quality mattresses, pillows, and linens improves the guest experience and leads to better reviews, which can boost occupancy rates.Smart TV or Streaming Services: Offering Netflix, Hulu, or similar services is a low-cost way to enhance guest entertainment and stay competitive.Fully Stocked Kitchen: A well-equipped kitchen with basic appliances and utensils appeals to families and long-term guests, saving them money on dining out.Dedicated Workspace: If your property caters to remote workers, adding a small desk and ergonomic chair can set your listing apart.Outdoor Spaces: If your property allows, an outdoor seating area, fire pit, or hot tub can significantly increase your nightly rate and attract more bookings.Energy-Efficient Features: Guests appreciate eco-friendly options like LED lighting, smart thermostats, or solar panels, especially in eco-conscious markets.Keyless Entry: A smart lock is a relatively small investment but offers convenience and security, which many guests value.If you’re deciding on amenities to add, it’s always a good idea to research your local market.

For example, in my market, we see MF building permits way down for the last 2-3 years.

As long as the city considers your property a true SF, you shouldn't have any issues getting this permitted (in theory, yet to see how some municipalities will handle this law).

Unfortunately, it's now going to get more complicated:(There are two types of approaches PMCs use to bill for maintenance:1) In-house ServiceTechs on the payroll, so owners are billed for their time by the hour.While the labor charges above are useful, they don't cover the true costs a PMC incurs, like:- Payroll costs for FICA, Social Security, Medicare, etc. that typically add 25-40% to the hourly rate- Medical insurance costs for the worker- Payroll processing costs to handle all of the above- Liability insurance costs in case worker damages something or injures someone- Workman's Compensation insurance- Costs of vehicles and tools- and more...Typically the management contract will disclose the total hourly rate an owner will be charged.

In 2024, the city instituted a CAP and for a period, now only active STR permits can transfer to a new owner.

The total cost including construction and permits (but excluding the land) comes to about $2.14 million.