It will provide a "feature" I believe your renters will appreciate.

I feel really good about the property, term on leases, cap rate(expect to land it right around 10%), usage, etc.

Accountability for hosts and guests is one of the most important features of the STR ecosystem.

$260.00Management $520.00Insurance $111.00Property Taxes $354.00Mortgage Payment $1,517.96Total $4,072.96Monthly Cash Flow: $1,127.04Cash on Cash ROI: 24.18%Financial Projections:Total Initial Equity: -$ 351,000.00Gross Rent Multiplier: 6.25Income-Expense Ratio (2% Rule): 1.28%Typical Cap Rate: 8.14%Debt Coverage Ratio: 1.74ARV based on Cap Rate: $ 390,000.0050% Rule Cash Flow Estimates:Total Monthly Income: $ 5,200.00x50% for Expenses: $ 2,600.00Monthly Payment/Interest Payment: $ 1,517.96Total Monthly Cash Flow using 50% Rule: $ 1,082.04This feels like a good deal based off the number, but It also put me on top of my budget.

Make sure you check out all that this site has to offer.There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proI really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alerts

However, the more hands-on you are and the better you know the property and avg vacancy rates the more you can adjust these numbers.For example, in terms of expense, if I'm looking at a townhouse where the HOA covers the roof, siding, landscaping and I know the HVAC and appliances are pretty new I'm assigning a lot lower expense to repairs & cap-x.

A property manager should help you to stabilize your newly acquired property, I'd be careful with a turnkey company who overprices the property and then provides crappy management because they just accept any tenant who will pay the highest rent so they can sell you the property for more based upon cap rate.

What cap rate and other attributes would you mainly look at in the deal to decide if it's worth considering ?

Can anyone tell me what is a good cap rate for a commercial building in Lakewood, OH?

Would you focus on a high cap or low cap market?