If I were you, I would purchase a duplex or triplex if you're able and make sure you learn the local tenant/landlord laws inside and out or hire an experienced property manger.

We have done this for over a year now and this strategy has gone really well.We are very experienced in the STR space and understand that getting bookings is multi-faceted (ie. listing photos, reviews, amenities, PRICING, description, seasonality, etc).

Commercial properties tend to yield higher returns but come with more complexity, higher risk, and longer vacancy periods, making them better suited for experienced investors.

And then do it again.It is actually possible to have a super experienced General Contractor, a very deep pockets money partner, and still lose money on a flip.The most common reason, in my experience, is having a project run over schedule and placing the property on the market during the off-season.

While I understand this may not be the best time for high demand, the lack of inquiries has been unusually low—something I’ve never experienced before.When I searched for similar rentals in the area, I discovered that my listing does not show up properly.

utilize the services of a top notch, experienced, track record verified mortgage broker to locate your best fit mortgage loan.  

@Christine AledamYou may be having difficulties, as this is often a conversation had at the attorney level, usually in conjunction with the LLC. 

However, I have no idea how to choose from the remaining cities, it seems there are a lot of potential options:- Midwest - Michigan (ie: Grand Rapids) seems to have options, also seeing Columbus Ohio and Indianapolis coming up- Reno - I've seen mentioned several times on here- Pittsburgh / Philadelphia / Twin Cities - All mentioned as lower cost to get started, and seem to be experiencing growthI'd ideally like to find a place that has strong potential for future growth, a diversified economy, and I don't mind living in (being close to nature would be a plus). 

I’d love to hear from experienced investors: do you think it’s possible to do BRRRR in a high-cost area, or would you recommend looking out of state?

An experienced investment focused agent will save investors time, will work for you to find the best deals, and can even help underwrite deals.