RepairsThen run for the hills.In Bridgeport, Connecticut and many North East regions we also include Snow Removal and Pest control.Explore all markets but do your research, as to where net migration and jobs are heading.Craig I want to add this little tid bit as well.. 

If you live on site and rent out rooms that's cool but, if you live off site and rent out rooms then that becomes a rental.There are plenty of companies that will do to a NO INCOME/NO CREDIT SCORE on about any loan you want as long as they get an Automatic Payment Agreement and a few other tid bits about the equity in the property or other collateral that you may have.

IRC Section 72(t)(2)(f)You are limited to $10,000 per IRAYes, you will pay taxes on the withdrawal(s)para (8) says to use the section 121 definition of principal residence.

@Jennifer Beadles  Here's another little tid bit because I like the cut of your jib....lol ...

@Chris Purcell  also if the vendor does not use the chip on your CC card and just swipes it.. you can dispute those as well and the CC will not protect the vendor.. they will only protect the vendor if the chip is used on a card with a chip.. little tid bit most don't know..

Any other tid-bits you think a newbie ought to know?

I should have bought some of those Borgata units when they were 30k LOL  Any way the other tid bit I remember as a snow bird you have to have weekly inpsections of your property during the winter other wise insurance wont cover a loss.I never had rentals. just a home that I lived in.. 

It’s helpful for understanding how to manage when you live out of state and has a lot of other good tid bits. 2) Still a good time to purchase a STR, just don’t buy something where the numbers don’t work.

Just a curious tid-bit but as your profile is all but nothing, how sure are we that your not a 15yr old troll, in Mom's basement with $23 to your name???? 

I think people can have both.. price of homes are so cheap in those areas you just pay cash for them... or pay them off quickly.. 40% of these areas the homes that are owner occ are paid for.. that's a little known tid bit.then go do your landlording thing.. but you have  home base that your not having to deal with some landlord ... to me renting is a complete waste of money .. in those areas when housing is so cheap.