STR or MTR in the Carolinas

[Apoorva Modali]

Hi Everyone! I am looking to invest around $100k in a STR or a MTR in either North Carolina or South Carolina. I live in California and own a few LTRs in Scottsdale, AZ, and Columbus, OH, which pay for themselves and leave me around 5-8% CoC Return. This time, I am looking to diversify in terms of asset type and go for a STR or a MTR, but I am not sure which city would be best for STRs and MTRs.

I am not sure if I want to compete with properties in an already saturated high demand market, as I'd be at a disadvantage (or maybe there's a sub-market with high demand and not so many STRs? - doubt it). At the same time, I also don't want to invest in a property that has little to no chance for appreciation. I am open to neighboring states to NC and SC as well. 

More details:
25% down conventional loan
100k cash available (downpayment + rehab if needed + furnishing)
I want to maximize my CoC return - So, I'm thinking 4+ bed properties.

1. Any recommendations for markets or submarkets for STRs and MTRs?
2. How much annualized return could I expect on an average for a STR and a MTR with current investors interest rates and my budget? 
3. How much would my property management expenses % be? I don't want to manage the property myself.
4. How long before I start seeing returns once the property listing goes up on STR websites?

I'd also appreciate if you could share yours STR numbers and experiences with me. Really looking for advice here! Thanks in advance.

[Robin Simon]

Not sure you would absolutely need to choose STR or MTR - why not both?  Seeing people have good success doing STR during busy seasons and MTR in off seasons - optimal strategy IMO if you can pull it off!