Choosing an investment property to do short term rental ROI 20%

[Anastasia S.]

Hello everyone! Love this Forum and my dream is to have properties all over the world one day:) 

Now I am looking to buy a place to turn it into short term rental. I've done it in my area and now want to go to a different state, where you can buy something for 100-150k. I've read privious topics and many people were referring to 20% ROI. I am wondering if I should look somewhere else, or use different approach, because the best option I've found so far is Kansas City, MI. Property in historical downtown can be bought for $110k and rented for $140 a night on average. Hosts seem to be very busy and many of them have multiple listings. However what I also have discovered that the city is trying to put limitations on short term rentals. And even in best case scenario it won't be 20% ROI.

Is anyone here familiar with KC market/regulations?

Also, where can I find more information on how to find a right property for me?

Any input and comments are very welcome!