Balance data with personal priorities.

@Jason Weidmannit's only solid if:1) you pick a market that you can go to in person and build a team first, and 2) you recognize that RE is a long-term investment, and you may have to wait 5-10 years, or longer, before seeing ANY return. 

Personal finance is as much behavioral as it is math.

Just my personal opinion - get a mentor or a person who already has good experience running STR business, preferably in your area (but not 100% required). 

I would imagine Long Beach is complicated to get into the STR game but I don't personally invest there so not sure.

Did you end up flying and looking in person in the area?

I would be fine with a $10k non-refundable retainer and $500/hr. personally.

I have known and worked with Matt for years.I have attended his training and hired him as a consultant.He is hands down the best at what he does.I have personally raised over $50 million for my hard money lending company.I am grateful for a lot of people who helping me with this success and Matt is at or near the top of that list.

And always check social media for red flags and I agree with Vince, always meet a person.  

Due to the current interest rates, you probably can't live for free, but you can definitely learn how to house hack in that first year, reduced your personal housing costs, learn the rent by room/co-living strategy on-site, and then probably break-even after move out, but most importantly, it is possible to make that work in 2025 with today's rates.It just takes being open-minded and willing to be flexible for the 1st year.