@Aaron Chittum Generally, yes...if your assumptions are correct for your market...judging by the purchase price, I would assume these are C-class or lower...so lots of deferred maintenance, needed upgrades, lower class tenants...possibly under market rents...or the need to stabilize through eviction...this is just an assumption and it's relative...my recommendation is always anticipate a cash outlay up front to stabilize properties and force appreciation and drive rents...then place it on cruise control...no need for property management and save 10% of your income....no maintenance costs or CapEx surprises either...Your ROI on these is pretty big...you could pay these off in less than 5-yrs if you accelerate debt paydown and cash flow very nicely...Most conventional lenders won't originate a loan under $50k...so purchasing individual may not work...and assuming CAP rate on anything with less than 5 units is pointless...while some appraisers may use income approach in tough situations...or even GRM...your value is based on comparable sales.

Tax planning should not be the driver here.

The at fault driver had them and they were great. 

I was told to find a driver and hop in the car!

It really depends on which of the drivers of each segment of rentals is more present with your condo, and which segment has the best blue ocean dynamic present.For example, if you are near a regional hospital and everyone is goo-goo-gah-gah over STRs in the area, mid-term is likely your cash cow. 

I am a truck driver from Ohio to Chicago 7 days a week basically.

Look into Cleveland, its got good cashflow potential with appreciation happening as well.Looking for appreciation come to Columbus, there are still 1% deals, but the more attractive part is the population growth and other economic drivers!

“Making sure everyone has access to quality, affordable housing is a bipartisan issue, and the industry stands ready to do its part to help create the 4.3 million new apartment homes our country needs.”Immigration has been a main driver of demand, but levels tapered off before the pandemic and remain lower than normal.

Demographics are a huge huge driver in prices in the Retail real estate world.

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