Quote from @Jake Rauch: Hi what tools, websites do you use to decide on market to invest in?

It’s definitely worth exploring if you’re looking for a robust management tool.

But yes we do bifurcate our portfolio and manage it to make sure it’s well balanced as well and not teetering too far one way or the other.Chris, I never knew about SEC audit.

We're an appreciation market, not as much of a cash flow market here, unless you're putting a large down payment or actively managing STR's.Buying out-of-state can get you more cash flow, but the tradeoff is less appreciation (usually), and cash flow can be eaten up by maintenance and expenses.

I used Hostify and you can work it into the management system to figure and charge all of that for you.  

@Travis Gutting I wouldn't let someone discourage you from investing in an area, but rather do your own due diligence and decide for yourself.

As for the rest of it, you can find a lot of useful tips on past forum posts along with podcasts and youtube material on the topic (BP and other RE sources).We've self managed STRs for a few years.

If there’s a significant difference, it might justify the cost of adding more beds.For example, we manage a 4BD property where one bedroom is currently locked off, so it only sleeps 6 (1 king, 2 queen).

You would have to self-manage though, as paying a property manager will eat up most of your profits.

Sees a lot of off market stuff because he is a property manager as well.The toughest part about investing outside of your locality is finding boots on the ground that you can trust.