The draw is actually this coming Fri for 2026The market for STR seems saturated in popular/touristic regions, however, if you have a unique property and offer affordable pricing, you may get descent occupancy. 

A lot of the popular markets have maps created showing class but I'd take caution using them.

As eric pointed out, someone who lives in Phila will have to be registered as a manager of the property to obtain a rental license - usually a PMPersonally if you're looking to target SFH I would recommend: Roxborough (for 3+ bedroom - there is a large saturation for 1-2 bed apartments in area), East falls, E and W Mount airy (need to be proficient in neighborhood to know where the good and not so good blocks are, and far NE philly.

ADU’s are a very popular in expensive areas, and I understand they add equity value as well.

Real estate investing can be an effective way to build long-term wealth, and among the various strategies, one has gained significant popularity over the years: BRRRR.

I also don't want to focus on one market, and not be able to score the right property for who knows how long, and then end up missing out on other locations, as being a long distance land lord is very popular as well.

I've seen properties on a lake or near a park or popular trail that will consistently get higher rent. 

Data point: we have a long-term rental in a popular STR neighborhood listed through Zillow right now.Every person who writes asking to do some sort of arbitrage is blocked by the Zillow platform.I don't even have to say "no thank you anymore."  

I know that the general guidance is that emergency funds aren't to be invested, but given our financial security and the fact that we already have a personal e-fund in a safe, non-volatile location, would it still be crazy/unwise to invest this 15k in an S&P500 index fund in a brokerage? 

Quote from @Greg Scott: Quote from @Derrick E.: I always play it by ear.