I wonder why STRs are so popular with lessors. All I have heard is that the unit economics are tough and the market is saturated in many places. I also expect a history as an STR to reduce resale value as it's sort of like buying a used rental car with more wear and tear.

I would caution anyone with a sweet, sweet mortgage rate looking to trade up their personal residence and hold onto the original as an STR to do the math before going down that route.