that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Our main goal is to ensure we’re properly protected.Additionally, should we allow pets in our STR?

I felt like checking a little bit more so I ran a proper background check on her and was shocked to find that she has multiple felonies including jail time.

Review what happened and determine why each item was above or below your expectations so that you can properly plan for next year.Review your prior year goals.Did you buy all of the properties you set out to purchase?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Obviously they are putting more pressure on out of state investors that invest within Cleveland proper, but spreading liability to the property manager is a new twist.

Until then quit looking two million miles deep, and focus on growth properly.

@John MaustellerTo be fair, the Colorado ski towns haven't literally banned STRs, but they have installed low caps on the number of permits and are getting to those caps only through attrition.

You don't need a mortgage broker, just a reputable, competent direct lender that will ask the important questions upfront to properly screen your deal.

As I mentioned in my post, if you don’t have a proper team in place to work on deals like this depending on this company to see you through is just smoke and mirrors.Thanks why won’t deal with them anymore.