Are you looking D, C, B or A class tenants/ market/ property? 

Be part of the "Class Action!" 

They're already there and given the holiday season, probably the traffic is light, so you can chat then up for 10-15m about the area, rental class, as well as any remarkable developments in the area that would positively impact that home/area. 

Each class you need to take is based on the required knowledge for the next class(s). 

My metro STR is much cheaper(180-280 nightly) and in the “burbs” which tends to be working class clientele, which is okay.

Downside is you likely need to be asset class and location agnostic.

Depends on the Class of the property/tenant.Class A, you may just have occassional maintenance issues.Class B, more maintenance issues, some tenant payment issues, some tenant drama.Class C, a lot of maintenance issues, a lot of tenant payment issues, a lot of tenant drama.Class D, too much to list.

He even teaches classes. 

I like the West Mobile area, its class A area, you can definitely find deals there, 3 bedroom with 2 bathroom for around 220k or so, you may have to wait a couple of years for positive cash flow but properties there increasing in values better than others.

Some of the best BRRRR deals I have seen play out this way:You buy a home cheap enough that when you do a renovation and pull out 75-80% LTV, your rent covers your mortgage and you have returned most of your investmentThis is for A-B class areas.