Best ROI on Residential Property Options?

[Geoffrey Israel]

I am in the fortunate situation of: 

• A) High income earner
• B) No family
• C) I can work from anywhere 

I currently own two properties in Washington D.C. and am on the hunt for number three. I can obtain a primary loan with 5% down for ~$700k. All in, I can consider a primary property at or below the $750k depending on HOA/Insurance/Taxes/etc. At it stands, spending $750k in the DMV is NOT the best use of my money. I can travel anywhere and purchase a residential property and convert it to a rental after six months to a year. Some of my ideas are:

• 1) Beach/Mountain property for short term rentals
• 2) A Duplex/Triplex/Quadplex in a metro city (Philly, Cleveland, etc.)
• 3) Single family property in a great area

If you were looking for the best ROI, what would you focus on?