Expense ratios vary dramatically depending on project size, age and other factors, but basic rule of thumb is the smaller the project the higher the expense ratio's, using a 33% expense ratio for a small facility (less than 150 units) is optimistic, smaller facilities are probably closer to 40%.

If you want to market traveling nurses, perhaps closer to town or inside Tucson is where you want to be with your STR.

If you anticipate challenges, it might be strategic to wait until closer to the 90-day notice period required by law.

I think you should take a closer look at Detroit and here is why:1.

We would treat this like a code violation for parking on the grass or having trash out front.

While still a challenge saving up the down payment it is closer to the realm of possibilities versus where we are at today.

If it's the former you're probably down closer to 700/mo and you should sell--appreciation on the town house would need to be 8500/yr to break even (which maybe if it's a 300k townhome is reasonable--but given it in a rough area of town is probably not the case).   

You could sell that and roll the profits into multiple downpayments closer to you so you can start to streamline management better and not pay for it.

But I value the different perspectives and would like to understand what led you to that conclusion more clearly.There's no future here where I could get closer to breaking even?

@Mark Pruitt We almost exclusively use River Ridge Escrow in Cedar Rapids, closer Melissa.