Same with fill dirt - they can't deliver mud to locations, and we can't compact it nor test it. 

@Mark HafnerI've been investing internationally for many years but it's very difficult to answer the kind of questions you ask without writing a dissertation so I'd encourage you to ask more precise questions in the forum.

Property ClassProperties are categorized by class, impacting their quality, condition, and investment profile:Class A: High-end, newly built, prime locations, attractive to institutional investors.Class B: Good quality, older than Class A, with minor deferred maintenance.Class C: Older properties with dated amenities, but value-add opportunities exist.Class D: Distressed properties in less desirable locations with high risks but potential for significant improvement.4.

That was just one of my properties and I now have multiple in different vacation locations.  

Quote from @Chris Strausbaugh: I'm located in Pennsylvania. 

This will help to reduce the premiums.Self Storage – “Company” Liability/Property insurance.Below is a summary of our Storage insurance for one location for your information.

In a market like Kansas City you can get $150 per month cash flow on average with the right multifamily property and right location.

The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

You'll get a feel for the age of the neighborhoods, the vitality of the commercial buildings, the ease of location, the closeness to jobs.The markets you're describing are more linear, and usually have lower capital appreciation.

BTW, you can do an LTR on any property - house or condo - without applying for a permit.In the right location, you should expect to see at least a 2x return on an STR as opposed to an LTR.