Also, just compare your listing with the competitor listings.

However, the best way to get a feel for rental rates compared to values is to review/underwrite properties in the area - only after reviewing/underwriting many will you begin to see a pattern.

With that in mind, you'd also have to make sure the land you'd buy has water and electric running to it already.

This plays into the affordability issues for tenants by allowing them to live in nicer neighborhoods for less money, yet I get monthly revenue comparable to short-term rentals.

This has been well worth it compared to the 40+ hours I was previously spending doing this myself come tax prep time.

@Tom Rairdon If you’ve owned your short-term rental (STR) for over a year, it likely qualifies for long-term capital gains (LTCG) treatment, taxed at lower rates (0%-20%) compared to your 33% ordinary income bracket.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Experience Purchasing from Non-ProfitsPurchasing property from non-profit organizations often involves additional considerations compared to typical transactions:Decision-making process: Non-profits often have a board or committee that must approve property sales.

The rent-to-price ratios in many neighborhoods are strong, and the city’s population is finally growing again after decades of decline.One thing that stands out to me is Detroit’s median home price—around $95k—which is far below comparable cities of its size in terms of population.

(And I would tell you to not buy a property that doesn't cash flow unless you have significant resources behind you that could absorb anything that could come at you - like replacing a $5,000 AC one month followed by replacing a $1,000 hot water heater the next).