Trying to assess the best strategy on what people are typically doing whether its 2-4 night min stays during off-peak with lower occ or is it typically MTR / 28+ day stays until summer?

All of our apartments are near schools, so we do attract stable long-term families too.In a typical apartment turnover is about 50% per year. 

If you want to be in that kind of area then I would recommend the buy and hold route, those (typically) have better numbers rather than flips, but it depends on what is "good" to you.

@Kyle Hoppman Setting a 7-10% hard cost contingency on a remodel is typical.

From a tax perspective, the IRS typically allows pre-rental work (like the hours you spent getting the property ready) to count toward material participation if it’s directly related to getting the property ready for rent.

@Michelle CooperFor our clients, we typically recommend MileIQ for mileage tracking.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

They are closer to LTR multifamily expense ratios than a typical STR.

Working through an infill lot opportunity in Spartanburg SC with utilities at street, no HOA, and strong new-build comps in the $260k+ range.For those who work with builders or who wholesale land regularly, how do they typically evaluate:• Lot size• Utility availability• Comps• Dirt condition• Entry priceI shared the full situation in my Classifieds post per BP rules.Just trying to understand how builders in that area run their numbers.

There are higher cash flow areas in the Midwest but not typically new construction.