I live in Asheville and am looking at STR in the Franklin area - agree with other posters that it's sort of between more desirable destinations, but also seems that the lower prices reflect that.

Here's another one:  Went to a Tax Sale where there was a "vacant" lot for sale of about 1 acre in a desirable suburban area. 

Sadly, it seems that cash flow on long term rentals with 20% down just does not exist in most desirable locations.

With my desired duration of paying them for 15 years, The investor earns their money back, plus an ROI of $45,860.

If you are looking to just calculate profitability, set how much profit you want to make then:ARV - Purchase Costs - Holding Costs - Selling Costs - Desired Profit - Rehab Budget (including contingency) = Maximum Allowable OfferIF you cannot calculate those numbers, a spreadsheet isn't going to help you. 

I still have a huge desire to own a place in Mazatlan Mexico.

Leave the less desirable ones as a backup to contact if this prospect does not work out.

got out of flipping to new construction in our market in columbus ohio. licensed general contractor. when interest rates got high single family existing went down by 30% new builds sold at a 6% increase that year which demonstrated the desire and premium that new construction commands. never looking back. total control, rinse and repeat. we can get permits in 28 days. we can buy land cash in 21 days. we can build in 120 days to 140 days and keep moving. super scalable and easy and no risk. we build the same 2-3 Floorplans 

They are often located in desirable neighborhoods and are close to good schools.

We look for good school systems, low crime and desirable neighborhoods.