When a Class A apartment can be had for the same price as a Class B/C renovated unit, the B/C operator drops prices, and so on.But, in terms of making an investment decision, I think it is short sighted to rely purely on full market average data.  

Passive income is certainly the name of the game - building a real estate portfolio and creating generational wealth are key ingredients to long term holistic financial health and success.There are fantastic real estate investment opportunities in various markets, particularly in the Midwest and Southeast of the country. 

I do generally agree with the sentiment of Austin and the other hosts that fundamentals will always win out in the long run, and this by nature is a long term industry, even the sales side I'm learning.  

You will never get that back in terms of additional cash flow

Then there’s city regulations—some places heavily restrict short-term rentals, so you’ve got to check the rules.If you find the right spot and automate stuff (guest communication, cleaning, etc.), it can be profitable.

I’d love to hear more about what you’re targeting in terms of property type and location.

Quote from @Joy Daniels: I manage short-term rentals in the Sarasota area, and I'm always looking for innovative ways to boost occupancy rates year-round.From your experience, what marketing strategies have had the biggest impact on keeping your properties booked?

I would use an experienced broker who can shop around and help you compare best terms on a National basis.

My wife and I have done all the terms (short, mid, long term rentals) and have done some live in flips.

You can also consider selling the properties to the tenants on terms.