I manage a bevy of STR properties in Costa Rica and from a yield perspective, things have definitely started to return to normal as far as revenue generation goes.

Accessory Dwelling Units (ADUs) are an increasingly popular way to generate additional rental income on an existing property.

There's other dialers out there that's more custom tailored to organizing calls, lead follow-up plus much more cost effective and honest with a live customer service line.

But if you were to use it as an air bnb or ir it is raw land that you can generate income from by farming or renting out to farmers or grazing that would certainly work.

Quote from @Roy Gottesdiener: I own a rental portfolio that generates around $1,600 in monthly cash flow and has $400,000 in equity.

If there's a family member or friend in a similar situation, and you can both align on the initial plan (location, home type, price, usage/occupancy, etc) you can pretty easily get a co-ownership agreement in place and even a joint mortgage.The benefit here is it might open up your ability to buy a larger place in a nicer area which could lead to a faster rate of appreciation and overall better living environment. 

But as a new investor, sometimes this advice leads you to only have cheerleaders in your life.

I market on Craiglist, Zillow, FB and Apts.com and get great leads from each in my market.

Capital generation is always good with a flip, or maybe getting into a value add deal, leveraging hard money to  update the property, then re-fi and hold.

Typically, if they can make it work as an STR they go that route because it almost always generates the most revenue.