Can you please also provide some insight if that changes occupancy and/or desirability?

Not everyone can put down 20% to start in the STR world and these are options to find an entry if someone desires.  

.--- Tactic 3: Strategic Land Acquisition: Bren acquired land in strategic locations, often before areas became highly desirable.3.

I pushed back on this and requested a re-appraisal - I submitted comps showing what other less desirable condos in my area have recently sold for - but the appraiser is sticking to his estimate (of course he's not going to admit he made a mistake).

If the area is desirable (with features like the pool and backyard), and the ARV holds strong, the multi-family homes may not have a huge impact.

Maybe you'll discover skills and desire to be the next Grant Cardone.

Only one facility in town is quality built/newer (maybe 10 yrs old) and it seems they do not have more room to expand and by secret shopping so to speak them plus the smaller less desirable facilities are mostly filled up.

See the 2020 aerial view below.Very little undeveloped private land is left in the Las Vegas Valley, and desirable areas cost more than $1 million per acre.

From what I understand a very good deal in a great location could multiply your returns compared to a less desirable location... just my opinion... 

Rents will go up and your biggest mistake was to buy a nice house in a desirable neighborhood.The real threat is buying in the hood, leveraged up to the gills, maybe even with hard money, tenants are bleeding you dry, while you are writing checks to attorneys and contractors.Milwaukee is getting a lot of attention lately: cash flow is still better than most places and appreciation is stable at 5-8%.