Way to many investors were buying properties for more then they were worth with hopes of collecting MUCH MORE than market rent.

Nashville is a ridiculously competitive market.

If your aunt isn't in a big rush, another option may be (I'm not familiar with TX law):- Pay your aunt for a Right of First Refusal (means you get a chance to buy it before anyone, but has to be notarized by you and your aunt and filed at the courthouse)- Sell your house on or off market.

Cleveland is a great market, but hopefully my warning here will help you avoid the headaches I endured.

I live in a town of about 100k people here in Dothan, AL, so STRs aren’t the most popping market.

A great place to start is https://www.biggerpockets.com/meet which you can use to find like-minded people in your area and every other market across the nation that you may consider.You'll find some helpful tips at https://www.biggerpockets.com/starthere.For tips on how to get the most out of BiggerPockets, check out: https://www.biggerpockets.com/rei/biggerpockets-com-tutorial/The BiggerPockets Keyword Alert System is an awesome tool: https://www.biggerpockets.com/renewsblog/2012/12/1...See you on future threads!

Are you currently investing in your hometown or are you looking at out of state markets?

I think it's very dependent on the property and market. 

I'd recommend looking at costs. your build cost is going to be well over other homes because of the fixed costs like slab, Hvac, roof, etc. check the market drivers and weight the benefits of short term versus long term. long term is no furniture and help pays mortgage but at this size it doesn't really cover everything. we didn't find a lot of economies of scale in single family detached. can you build more than one unit?

Recently, our real estate agent did a market analysis and estimates we can sell for between $575K-$585K, resulting in a net gain after all of our fees of about $100K.