Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Hi @Sumit B.To start off, Cape Coral does have a 7 day rental minimum, however, this is an ordinance that pre-dates the STR industry and was originally targeting transient housing. 

@Guenevere F. you're going to need 20-25% down to get a mortgage.If you target $100k, that won't leave you any funds for closing cost, maintenance or emergency reserves.You could try targeting around $80k, but the $16k-$20k down payment would still not leave you with enough.If you buy under $80k, you're probably buying such a low-end property that it is unlikely to meet your performance expectations.

After investing $35,000 in targeted renovations, we elevated its appeal and market value.

My goal is to achieve a good cash flow and rent out properties for a long time.

You could also put 25% down and buy down the interest rate to achieve the same.

The gross yield is only 7-8%, I target 12%-16% here in FL and find it often.

The real trick is making sure you’ve got a handle on who’s active in your target area.

I was recently listening to a podcast and in this particular episode, the investor targeted CoC of >5%.

Considering a mix of long and short term rentals, with the STR’s being non-traditional structures targeting glamping clientele.