The county in the Finger Lakes Wine country where I have several properties are considering banning STR's as well.

I invest in the Midwest where prices are still pretty reasonable compared to rents, and I’ve found that balance between cash flow and long-term stability to be the sweet spot.

Very sweet and generous women who also has the goal to leave all her daughters with a cash flowing ADU or property.

What I’ve noticed is that the returns don’t always scale proportionally with price, and there definitely seems to be a “sweet spot” where demand, occupancy, and operational risk all balance out.

Napa Sonoma Lake co wine country.. the gold country.. lake Tahoe  North of Tahoe Greagle Plumas county  south to Sonora and those areas..

If an investor doesn’t understand it’s active, then they don’t get to eat mussels in wine sauce in Europe.

A lot of investors I know in similar positions have found the hybrid model to be the sweet spot: outsource leasing/renewals since that’s where student rentals can really eat up time, but keep CapEx/maintenance oversight in-house to protect margins.

if your a new RE investor hoping to use a conventional, fha, or va loan then DTI is important.I think experienced RE investors are not usually impacted by DTI.My RE debt is ~60 times my yearly income or using your formula is 483% (over 10 times higher than OP indicated as the sweet spot).  

My wife is also a high income earner--she works in the hospitality and wine space.

Are you getting married or do you like wine?