Another huge thing to consider is laws and regulations, many times new investors will jump at Hudson county thinking the proximity to NYC is great for renting (which it is) but many of the municipalities in Hudson county have very strict landlord laws. 

Baltimore is huge and very differentiated inside of itself.

STRs have a huge earning potential but it's definitely something that takes a lot of time, patience, and effort these days.

We have never focused on one area huge mistake.

They wouldn't be coming to you.So you can get a gold standard investment advisor and give up .5 to 2% of your return, or you can send the money to one or more huge index funds like Vanguard 500 index fund and sleep well at night.But if you think you have something of value other than the generic value of money, you will be sorely disappointed.

Making connections with nearby real estate experts might yield insightful information and beneficial chances.

In my experience, allowing these professionals to guide you can be highly beneficial, as they are likely to recommend properties they would be comfortable managing.

If you can secure favorable terms now, the future development opportunities could offset any initial cash flow challenges.Communicate Flexibility: Approach the landlord with an open mind and emphasize that you’re willing to work with them to find a mutually beneficial solution.This isn’t a fantastical idea at all—it’s a creative opportunity that could work with the right approach.

But the other side of the coin is correct - the downside, and it can be huge, is potential assessments from HOAs who aren't solvent enough for new roofs or roads or maintenance.

The taxes here are high, but the price to rent ratio is exceptional and there is a huge demand for quality housing in certain neighborhoods.