Jon, I have done this and honestly their nightly rates in most cases are within $20 per night of my place which doesnt have a pool.

Greg was able to get me a great rate and was able to work through a couple of issues that could have tanked the deal.

And she’s the one that released the latest tax rates and year to year comparisons in September of 2024.

I would count on having at least half market rate tenants, in the event Section 8 rents are higher than market, which they are in our market (granted you will need to subtract the utilities from the rent).  

Our rating across all properties is 4.5 too. 

Well if you ran realistic conservative numbers for maintenance, capex, vacancy rates, rental income, etc then you don't really need cash flow do you?

It’s not just about the profit margin or the cap rate; it’s also about building trust in the community.

If I took my best guess, investor rates may settle around 7.5% for quite a while.

That will get you looking at cash flow and end up in a lower rated area than you think.

Their rates are good but boy, they looked at my financials and ask some funny questions such as asking for proof that I could withdraw funds from my SEP IRA account, and that I need to provide documentation to verify that  this employer sponsored retirement account allows for funds to be withdrawn, or if withdrawals could only be made in connection with the borrowers employment termination, retirement or death etc. everyday they sent me something new to answer.