Thanks Stuart.I don't think a "thesis" is necessary for real estate investing.Your mixing "thesis" with speculation and prediction IMO$1m in cash is retirement for someone that knows what they are doing in "low barrier" markets like you mention.Same can't be said for higher entry markets.Those that don't know real estate will loose no matter where or how they invest.Personally, I don't care about appreciation as I don't get out of bed unless I can net cashflow 20% net on a deal.For example, just bought a 6 unit in a B class area for $160,000.Currently occupied and renting for $3,000pm.Once minor rehab of $50,000 is completed, rents will be $4,500.I have an offer to sell as is for $250,000.ARV is $350,000.When interest rates go down, value will increase even further due to commercial lending being easier.No need for appreciation on such deals.I'll take them all day long over any appreciation potential.Again, just my opinion and each to their own.

Make sure he takes pictures of it and also take some other pictures so you can have the current status.

If I apply the 1% rule, the current rental value is below by about $500, however, cap rate is calculated at 6% and CoC at 3%.

I live in Orange Park Acres and currently working from home so I’m pretty much available anytime. 

The property is currently leased and tenant works in construction so he has a big truck parked on the driveway. 

I don't currently own/manage any STRs, so I may not be of much help on the operations side of them. 

where are the rates trending currently on this product? 

I am currently in the WNC rental market, hoping to get into Charlotte soon!

Purchased with plan to live in permanently, put it as a STVR while traveling in our RV during the pandemic, and it did so well as a STVR that we decided to keep it as a rental and buy another cabin in Yosemite as our primary residence.

I currently handle the leases and collecting rent.