I would rather recommend being a maximum 3-4 hours drive from whatever market you decide to get into. 

we have investors who are trying to decide between long term rentals on new builds and short term rentals on new builds in midwest markets in urban adjacent core neighborhoods. how are yours performing?

Of course we are closing now that the market is picking back up🤦🏼‍♂️.

Quote from @Felicia Nitu: Quote from @Jay Hinrichs: hope it works.. but throwing in the affordable housing requirement a lot of times kills the project right there.Also at least in markets I have worked the time lines START from completed submission.. you make your submission and then get an incomplete letter this goes on for months and months soo time lines still extend.. but at least its a step in the right direction hope if works.Hi Jay, the affordable housing requirement can definitely be a dealbreaker for some projects.

But it's playing with fire to buy there if STR is a priority as it's very likely they will eventually start enforcing it better.Yes I've seen this same thing in some of the markets we operate in.

Plenty of 50-60% leverage loan options for developable land, and may still be more marketable to the LP if you went that route even if it meant incurring some additional finance charges.

I believe there will be major market decline due to other things, but I hope not.  

In this market small multi families are not traded frequently meaning they do not have comps for these properties.

Found on Zillow during a competitive time in the market.

And then you got the vacation rental market.