People will rent homes in that area because they cannot yet afford to buy, but hope to buy a newer home in the future and keep the kids in the same school system and around their same friends.

STRs can bring great returns but are higher risk and more hands-on, like small-cap stocks, while long-term rentals are stable and predictable, like large-cap investments.

At a minimum look for a deal that breaks even - although it's always better to cash flow and still have the shot at future appreciation.

One size does not fit all and I wouldn't take much stock in any advice stating that housing assistance tenants are better or worse as a whole. 

At that time, my friend encouraged me to get into real estate with the idea of creating passive income and wealth in future (via appreciation).

It’s also helpful to build a small network of trusted vendors and tradespeople you can rely on for future projects.The BRRRR strategy can be a great way to scale, but I’d advise budgeting some extra cushion for unexpected costs or delays—it’s almost inevitable.

Disclosure: Previous, current and future purchaser of Matt Scott's services.I have personally used Matt Scott and Incite Venture Capital to create my fixed income fund.

When the housing market became seller friendly, I unloaded 5/6 of our long term rental units, paid off our house with that and invested in stocks and mutual funds…completely no fun, right??

However, much older, and you'll be looking at many structural renovations in the future.

Invest in the stock market2.