The market has slowed down and correspondingly good deals have as well, but we never control the market, we only control our own actions."

You also need to consider that the summers in the Phoenix metro are slow for STRs since it's so hot, most people can't hang.

YES, we may be a little biased, but check out our blog here on BP comparing Detroit to other cities and Deep Dives on Metro Detroit cities & neighborhoods: https://www.biggerpockets.com/...

Depending on the property, I also like to check the Rentometer numbers in case I were to switch to Long Term Rental and Furnished Finder stats for the area to see if Mid Term Rental would work during slow seasons.

GAAAHHHTake a deep breath.

YES, we may be a little biased, but check out our blog here on BP comparing Detroit to other cities and Deep Dives on Metro Detroit cities & neighborhoods: https://www.biggerpockets.com/...

Dig in as deep as you can and stretch your creativity but in the end, if it doesn’t work… walk away.We’ve lost tens of thousands in EMD because we had to make competitive offers but in the end the due diligence revealed too many flaws.Channel your inner robot and take a look at your situation with completely objective goggles.

Your capital constraints will slow the speed of your project and how quickly you can rent out the spaces and make returns.

YES, we may be a little biased, but check out our blog here on BP comparing Detroit to other cities and Deep Dives on Metro Detroit cities & neighborhoods: https://www.biggerpockets.com/...Your biggest question shouldn't be WHERE to invest, but HOW you will invest!

My advice is start slow and have reserves.