One of the items that is not reflected in the appraisal is the fact that the property is in a historic district.

Unfortunately I don't have any historical data on this STR so I'm flying solo and trying to find a way to make an educated SWAG.I'll look at VRBO.

Specifically. places where the millennials are attracted to are interesting as they are becoming the biggest renter and homebuyer group(Note: Be careful with 'historical' data.

He hit the jackpot because the property came subject to a local neighborhood historic society, the city historic society, one run by the state, and the restoration committee under the Federal Register 😱.

I have two duplexes, which I have owned for about 3 years, but two of the units had been under renovation or occupied by me for a portion of the time, so historic rental income isn't reflective of current conditions with all 4 units now rented.

*San Antonio, TX*- Demand Drivers consisting of universities, military bases, corporate headquarters, and leisure attractions (theme parks, historic poi's)- 350k-500k+ pool properties potentially grossing 70k-100k+ revenue on the STR side- Active Permit good for 3 years currently- No specific to SA, but 2022 is the last year for 100% bonus depreciation, talk to your CPA on how this applies on new acquisitions. 

Much of this is due to historically low inventory levels.

Overall, building is going to be rather expensive compared to existing homes but they will sell at a premium and with historical low inventory levels you may be surprised to see what you could get if you build and then sell (or rent out long term as a backup strategy).

Interest rates are low by historical measures.

Fortunately, San Diego has outstanding historical rent appreciation.