STR I would highly recommend not to focus on as first investment: also there, my partner is a superhost and we have been managing Airbnb for years and the last year has been pretty funky: people tend to book last minute and you risk to be cash flow negative starting brand new.

Class C properties, not saying these are Class C (I don't know), require a lot of EFFORT, but beyond that, lower end properties tend to have more turn over, higher wear and tear expense, and longer vacancy if you hold your tenant requirements firm.Lastly, it is simply overpriced.  

It tends to be much easier to raise money and oversee the property with passive investors whose only role is to write you a check than with active ones who will manage the property with you and expect decisions to be made by consensus.

That is why you tend to see builders offering such a big "Builders Credit" it’s because it's "Ghost Money" it really doesn’t matter or exist to an extent.A builder can go into an area build 20-30 homes for example, buy the first 2-3 homes paying top dollar so they can set the market sales.

In my experience, tenants who are paying $300 in rent tend to react more negatively to these things and I've had issues with getting them to leave peacefully, but very broad strokes. 

I have a lot of clients in KC, MO too which I find tends to offer better upside, newer construction, less cash flow, but better overall macroeconomics. 

The most successful investors I see tend to get laser focused on 1 or 2 strategies in 1 or 2 markets and they get really good at doing the same winning thing over and over. 

Tenant Turnover and Vacancy Rates Impact: Rent control tends to incentivize tenants to stay longer, as they benefit from paying below-market rents.

Real estate thrives on leverage since it tends to be a slow mover, which can be a double-edged sword. 

Many landlords on this forum miss this - they often tend to be conservative in their political values - conservative policies, in that sense that they are "landlord friendly" also tend to go hand in hand with policies that make adding new supply easy.