In addition, high cost RE markets traditional have greater rent growth than low cost RE markets.  

You fail to the systems in place, keep strong standards and the failure rate is light.

There's also free services for tenants to pay their rent online which include some light accounting features.

Fire pit with string lights is very popular.

Each potential buyer has come to their own conclusion that it would be too much hassle and risk to manage in this fashion vs a traditional rental even though the average cap rate in our area has been half that at best.

STRs in Non-Traditional MarketsShort-term rentals in areas near universities or event venues are gaining popularity.

There is some additional information that wasn't mentioned in your post above which sheds a different light on the situation.  1.

If done, in light of all that I guess some will feel much happier when walking though Home Depot parking lot. 

I agree that DealCheck (or the BP calculator) does not provide enough tools or functionality to analyze those types of transactions (yet).But I would argue that it does a great job at analyzing more traditional buy & hold SFRs and multi-families, as well as flips and rehab projects. 

Success:  Signing a deal with First WatchFailure: Bought a retail condo, not realizing the low ceilings were such a deal breaker for a lot of tenants.Pain: A lot of turnover this year, especially in light industrialAha moment:  Mortgage note investing needs to be a larger part of my portfolio2025 Goals: Less Investing and more pickleball!