Motivated to get into STR soon

[T.M. B.]

Hi. Been really interested in RE investing for sometime and have been trying to learn as much as possible recently. I’ve read the forums, and thanks to all for sharing your knowledge and experience.

We are looking to do some STRs by the end of the year. Biggest questions are:

What would be some good locations to look at where there have STR friendly regulations on the books already? We live in Los Angeles - Ideally would like to be drivable to the place we buy, but most places locally have regulations in place that I've found. So we are very willing to do out of state.

Also, I know that you guys have mentioned to “run the numbers”. As a first time person, who wants to learn - is it better to do a smaller value deal, leaving enough capital to do another deal sooner - with experience? Or do higher end properties tend to cash flow better as a rule of thumb?

Thanks!