As you mentioned those specific details about MTRs geared toward traveling healthcare professionals, these are things I think would help us tremendously as landlords because we play both roles.

So if I am looking at an asset as a 10 year play - I look more at the location, schools and how has this market performed in the past excluding covid and 2008 which were extenuating circumstances.Reality is right now shorter term plays do not work based on numbers and cost of financing - we went through this same thing in 2001-2004ish timeframe where properties would appreciate 2-3% per year and after buying costs and closing costs - you were not making money on assets unless you performed the labor or found a really good deal.this is how real estate "typically" is - which is why everyone always says location location location - because after a decent holding period, you will win.

What do you think franchise would be still better or starting from scratch ( long term benefits).

I guess an appreciation play would be the only thing that makes sense over here.

Role-playing.     . you paid $300k 10 years ago, it’s worth $660k, (so when you sell you net $600k to make math easy.)and your cpa determined that you owned zero land, so it’s all depreciatable. you owe 15% on the $300k gain plus 25% tax on $109k depreciation recapture, so you owe $70k in federal taxes, then California reaches out for another $30k?  

You're not playing  landlord anymore, but can make some $$$ if/when you need to.

If it is built from scratch with a full fire box, then most types of wood can be burned.  

And in part, it depends on the investors and capital that you have access to (this tends to play a factor in many decisions when raising outside capital).If you do want to go the fund route, you might want to consider using Avestor. 

This plays into the affordability issues for tenants by allowing them to live in nicer neighborhoods for less money, yet I get monthly revenue comparable to short-term rentals.

I am far from an expert in this field as I have been learning alot myself but cap rate does play a role in your type of business.