My take on this is to underwrite purchases based on expected LTR rents (I like rentometer and the BP's own rental estimator), but start charging 1.5x that rent for your MTR.

The only reason I brought up that I coach in a comment was because I disagree with Henry's approach based on significant experience.

This gives you flexibility and a clearer understanding of how you’ll proceed based on market changes.

Based off of the podcasts I am listening to and other property management professionals that I network with, that has been the experience of portfolios across the states. 

Yes, there are times they do win and make money, but not on a frequent bases in my experience.  

There are many excluded, niche groups (beyond the scope of this post), but here are the ones that you could fall under:Large Businesses20+ FULL TIME W2 US based employees; ANDU.S.

Quote from @Robin Cloud: It's hard to make a decision based on this.

I own a single-family home right outside the USMC Camp Pendleton base, and I’m looking to explore the mid-term rental niche.

The more rehabs you do the better understanding you will have of the market for contacting work and materials.Doing a rehab every so often prevents you from being sharp with your budget.For those with limited exposure, ask others in the industry and always run your numbers based on being overbudget and overtime. 

My goal is to build a data-driven tool that provides actionable insights into which neighborhoods and property types are in the highest demand, based on metrics like:Time on market: How quickly rentals are being leased.Property characteristics: Bedrooms, bathrooms, size, and amenities.Pricing trends: Rental rates relative to market demand and property features.Visual quality: Leveraging property photos to analyze the style and condition of rentals that perform well.The tool will allow users to:Pinpoint areas with the fastest rental turnovers.Understand what types of properties (size, price range, features) rent the quickest.Gain deeper insights into property presentation and amenities that correlate with high demand.Thank you in advance for your feedback.