What areas do you recommend for airbnb in particular?

BP has done such a great job of promoting SFR investing to the masses, that those masses have pushed up real estate prices to where it's now DIFFICULT to cashflow right away.Keep going, but understand you won't get rich in real estate overnight - it's a long-term wealth building strategy.For the short-term, recommend joining a few in-person investor meetings if possible, otherwise online ones.

I would recommend tuning into Straight Up Chicago Investor Podcast and going to local meetups. 

I recommend you call a local agent or broker to give you a better lay of the land so you understand the challenges/opportunities in this area.

I recommend terminating their lease now.

I highly recommend managing it remotely if possible.

Ask them if they'd mind sharing their experience with you.. if they'd recommend the area or not, and lastly if they could maybe send you a P/L sheet to see their income, expenses etc.You might run into some hosts that aren't responsive or any help, but it just takes a few people to share insight to get a good idea of the market you're dealing with.

What are the watch outs or steps that you recommend?

However, I don’t yet have the funds for a down payment on another house, and I’m trying to figure out the best option for where to live while I rent the apartment.Do you have any recommendations for managing this transition or tips on finding a temporary place to stay?

I highly recommend the coaching.