I like to use actual numbers when I can and percents when actual numbers are not available.  

More like half percent rule.

Not only is it on lockdown (so less visitors), but because of budget shortfalls they just approved a property tax hike of 34%. https://www.tennessean.com/story/news/politics/2020/06/17/nashville-approves-new-budget-34-percent-tax-hike-increase-funds-police-schools/3200993001/As others have said, a lot of areas are doing great for STRs right now, particularly places that are away from the masses.

There are a few acceleration methods you can use for the investment but one that is really important, especially right now, is leverage.You want to pay about 20-25% of the purchase price as downpayment and you need a few percent for costs associated with the deal, like appraisals, closing costs, etc.If you have enough equity to play with you can start with multiple properties all at once.I’ll be happy to discuss more details.

@Todd TurbervilleIf you dont have the conventional requirement of 20 percent, if you are a first time buyer you can put at least 6% although there are loan schemes that allow you to only put 3% but you have to occupy the property.

Mortgages fell from 15 plus percent in the early 80's to 7.5% in the mid 90's.

Most managers have a set fee as a percent of the rent. 

I will often do this math and show how CA makes more money in a few years than a lifetime in the midwest.

So $2.4k year profit in rent (almost no income tax to pay on the rent), and possible appreciation of say 5% or $20k).So we are putting up $200k of our own money to get a $22.4k a year profit or 22.4/200k or 11.2% percent. 

Some of them are even true.Landlords are immersed in the human experience every day.Landlords are required to be a strange amalgamation of amatuer mathematician, contractor, lawyer, counselor, arbiter, designer, landscaper, mediator, administrator and bookkeeper.Landlords have watched the deal of a lifetime turn into an infinite chain of problems after the ink is dry and the money is long gone.