I recently saw someone turn around a three-family property there by targeting tenents like teachers and nurses.. stable professionals who value quality housing.

If you're local, you can start by really learning the market by driving the neighborhoods, studying recent sales, and getting to know what areas investors are targeting.

All over the web.

A contact of mine has been thriving with STR investments in suburban Chicago, targeting guests visiting for conferences.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Because this property is located in midtown historic district of Sacramento, we feel there may be market for both MTR and STR, but first thing is we will target LTR and let 3 or 4 units filled in.When we first start developing this apartment from ground up, it was intended to flip and move on to the next project, with timing and interest rate etc.. we deiced to keep it as a cash cow for a while and see how things go.  

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

For example the license should not only have a cost but also require at least some compliance training targeting some of the most common issues/complaints.

What they do not know is the city, state, and your locations that you want to target.

It's about targeting the right audience at the most affordable cost.