= 20-40k-- Capex (target 1% of capital) = 10k-- TOTAL = 47.5-67.5k- CASH FLOW (YIELD) = 32.5-52.5k (3.25-5.25%)Based on that math, it's considerably better/higher yield to switch to STRs compared to the $15-24k cash flow in my LTR.

It's all about comparing the loan amount to the property's appraised value.

A great place to start.It depends where are you looking for, rentometer and zillow are sort of accurate in areas with enough similar comparables, if that is not your case, you have to rely more on look property by property to see if those are similar than yours.As agents we have access to history so that sometimes helps, if you have one, I would say to rely on his/her data.Investing is a very analytic job so I always recommend to run your number even when you have someone that is helping you.

Water damage is expensive, often hidden behind walls, and sellers know that disclosing it kills offers.What to look for: Compare Section 4 of the TDS (structural/functional) against the inspector's notes on the foundation, crawl space, and attic.

Compare what the seller says the property should make to what it has actually made.

Check comparable rents for updated units — there may be value-add here.5.

You can sell for, and the buyer can get a loan for exactly the amount as the comparable house across the street.  

I do undersand the Macro, and the cycle of debt and why...butI feel like everyone is Hyping a Housing downturn in the works and in Pima County it feels like we are flattening out. slight declines in asking prices but, not at a loss. some owners who have overpaid for luxury properties (not rentals IMO) are underwater compared to rent. 

The 20% down is just negative cash flow in month 1 compared to negative cash flow after month 1. 

Happy to share what I’m seeing in the 30–60 unit range and connect if you’d like to compare opportunities.