Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Just finished my first read-through of Start with Strategy. 1st step is to define your core values.

You'll sleep better and it will increase your property value.

Refinanced the $185k balance in 2023 How did you add value to the deal?

For that reason (so far) I've focused on distressed, value add, and forced appreciation deals. 

How much time do you spend, and what is the value of that time? 

The problem in STR has, and probably always will be, the inability of the consumer to capably flesh out value properties.

@William R Bebout Jr If you put the time into adding value to others on here as a PM you will get leads as well but if your new client spend is next to $0.00 now this might not be the first pass. 

Condos have HOA monthly fees (goes up every year) + cannot add value since sqfts is limited.

. - From a big picture standpoint I'm also wondering if the EPA is going to be more and more malicious in how they go after older home's with "lead paint" and inefficiencies and what that will do to long term value and cost of ownership.