I always make sure my nightly rates plus cleaning fee are less than the nightly rates for the nearby hotels. 

Nearby attractions are helpful for non-show days.

Both in terms of nearby rentals and recently sold properties.

This mainly means that it is close to transportation and no more than 30-40 minutes from Manhattan (I work in the city), and has good parks nearby to run/cycle.

Networking sessions are a common element of REIA events, providing an opportunity to meet investors, discuss your objectives, and get guidance.Real Estate Experts: Establish connections with nearby mortgage brokers, real estate agents, and other experts.

I would advise on "house hacking" or rental by the room to increase revenues and get going quickly, so focus on location nearby one of the hospitals/colleges in the area so you can maximize your investment and minimize risk.

Two military bases nearby.

The basement itself has some finished, and unfinished parts near by utilities area.

Plus see if there is another STR nearby that you could book for them.

@Carlos Hernández if you're in Dallas and have $50k to invest, you can certainly find an affordable area nearby and likely qualify for a hard money loan.