Lets talk :) What type of unit size are you looking for - small duplexes/triplexes or more of large unit multis?

Typically a rule of thumb is with no experience and average credit you are looking at 15-20% down depending on the rehab size and complexity. 

To be successful right now in STR, you either need to go all out and beat everyone else on their table stakes (pickleball, basketball, game rooms, saunas, hot tubs, etc.) or you need to understand the market better than anyone and pick a niche for that market.Right now, you are one post in and just asking for someone to tell you anywhere in the United States to invest, which is silly.

There is no better way to learn than watching real world first hand.The rich teach their children about money through first hand experience and at the dinner table.

@Jonathan Feliciano Ask yourself what competitive edge does this boots on the ground partner brings to the table a reputable GC and PM can’t provide?

I am basically end up ina  nice size apartment with yard for about $500 after top unit goes towards the mortgage. 

There is no 1-size-fit's-all, it's about your personal "zen".

Together they are 0.92 acre, which is a nice size. 

While this may converge with a planning commission meeting for 2024 budgeting, if it is at least on the table for 2025, that would be exciting. 

Your focus should be on growing a profitable and sustainable business, and rarely does this correlate in anyway to the size portfolio you can grow  as quickly as possible.Before you concern yourself with your partnership agreement you should revisit your investment thesis and strategy.