I understand that investing in Southern California can be a challenge, especially with the high cost of living. I have spoken to a lot of CA investors who have decided to invest out of state in mid-west states.
If you're not sure where to start, I recommend working with a turnkey company that specializes in investment properties. They can help you find the right property, negotiate the best price, and manage the property once you own it.
As for short-term rentals (STRs) vs. long-term rentals (LTRs), there are pros and cons to both. STRs can be more profitable, but they also come with more risk. LTRs are less risky, but they may not generate as much income.
The best option for you will depend on your individual circumstances and goals. If you're looking for a property that will generate a lot of income, an STR may be the way to go. However, if you're looking for a property that will provide you with a steady stream of income, an LTR may be a better option.
I hope this information is helpful. Please let me know if you have any other questions and I would be more than happy to help