The 1% Rule hasn't been gospel in any real estate religion, for any time. 

In my opinion, the 1% rule was never alive. 

Hey Gp,We’re still doing some deals in Detroit that hit around the 2% rule, but it’s definitely getting tougher.

The 2 strategies are related. 1.

My original plan was to build the 2 units then sell them.

Don’t be afraid to flex a bit on the 1% rule if long-term fundamentals are strong.

My partner will be contributing the majority of the capital, while I will bring operational expertise—including project management and short-term rental operations. 

Please note: this is just an overview - there are always exceptions to the rules and specific prospects STR usages should ALWAYS be directly confirmed with the planning department or jurisdiction responsible for permit/license issuance.

Also, would like to know if the 1 percent napkin rule is still a good rule of thumb into weeding out properties.

We are in need of a SUB 2 coach to writ the agreement.What made you interested in investing in this type of deal?