This metric became popular post GFC, when properties with a 1% rent to value ratio were fairly easy to find.  

As someone actively investing in STRs and looking to scale, this raises some concerns for me about the long-term viability of this strategy.I understand the tension between hotels and STRs, especially in popular tourist destinations, but I’m curious:How real is this threat?

For STR, AirDNA is the most popular option of course, but the pricing model per city is rough (if it's still like that).

I live in a popular vacation town in the mountains of Western North Carolina.

We sold it after 3 years as the appreciation was so significant, it would have been foolish to hold it longer and roll the dice.  

Detroit seems popular for cash flow!

If you research recent sales you can always provide the appraiser a list of those sales.One of the best ways to insure a higher value is to update the property using materials and fixtures that are popular and common in the area.

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Not a tourist destination, but very popular and is experiencing rapid growth.

I have properties all around popular spots, including smoky mountain.