Need advice on building LTR and STR Portfolio

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I live in New York and I'm 22 years old.

I'm interested in starting to invest in real estate and am still new to the process.

I have been exploring STR deals around the country.

However, my question is if someone has access to a substantial amount of capital, would it make sense to invest in LTR's?

If so, I understand the 1% rule but how can you value what the potential increase in appreciation will be?

Is there anything else that I need to keep in mind?

Thanks.