But this official rate understates the true level of joblessness.

In a three family under state code i would have to sprinkler the entire house, in a two family “local” code i would only be required to sprinkler third floor to first egress, which is a door on the first floor; so I’d have to sprinkler third floor and stairwell leading to a door on the first floor.I plan on keeping the property long term, and just about the entire block that the house is on are college rentals next to a major university. i believe my house is the only legal three family on the entire block of about 40 houses.Comps are hard to pull because of this this, just about everything I pull and appraisers have pulled are two family residences. 

I'd hate to wildly understate these costs as I'm doing my calcs. 

To be a bit understated...

To my understating correct me if I’m wrong I’ve done some research.

Recommending specific neighborhoods will likely fall under steering which is illegal.

Your NOI is understated.  

The experience you garner from the first STR though cannot be understated.

FYI, under state law, the broker is personally responsible for your conduct and is obligated to train you.  

Management contracts that I have always worked under stated that we our "duties" included "management" of the property.