Your original thesis is going to ring true.

Mine is dog-eared and always within reach.

We'll keep our eyes and ears open.

I’m currently writing a book on self managing short term rentals because my phone never stops ringing with people wanting me to teach them.You heard it here first folks!

There may be a deal if the houses are properly maintained but the area and prices and month to month leases suggest this is another deal waiting for some poor out of state buyer to ring my phone to bail them out of. 

Hey @Erik Stenbakken, I just have a 3 ring binder with all the info.

If your holding period is 20+ years, the difference may be several roofs, HVAC, updates to keep them marketable and neighborhoods depreciating in value (or not appreciating as fast).I suggest you find the best market and the best units that meet the forecasted need in the community, but at the middle or upper end of that segment assuming better condition and less maintenance.Rules, such as the 2%, 50% are good for evaluations to estimate properties, but they may not ring true for a particular property, some will be better and some won't meet those guidlines yet they can out perfom over time due to location, building materials, socio-economic aspects of tenants and taxe assessments.

I'm all ears!

I'm all ears, eager to connect, learn, and grow alongside this incredible community.Let's dive into the world of real estate together and make some waves!

Between @Amber Gonion @Jordan Moorhead and @Daniel Anshus, you have 3 qualified brokers who'd be psyched to run some comparables and give you a ballpark.I recommend giving one of them a ring.