We acclimated the flooring, but I suspect the existing tenant may keep the house at some very different temps (when she travels I suspect it's quite cool in the winter just warm enough to keep pipes form freezing, and very hot in the summer).  

They cater more to traveling professionals. 

I put in some new flooring and paint, minor electrical, and a couple of ceiling fans (approx 20k in repairs, appliances, travel, and holding)I put in a new refrigerator, washer and dryer, and leased it myself to a family a few months later (6 months lease) through an insurance company because of their home being a total loss.

My audience I was shooting for traveling nurses & displaced families

The property cash flowed well and covered our expenses in 2021 and 2022 with short-term rentals and about 80-85% business use, but it did not rent as well in 2023 (oversaturated rental market, change in travel restrictions, weather etc...) and dropped to about 65% business use and a negative cash flow of about $15K.

It sounds like he believes CAP rates have a significant chance of going higher still given most likely conditions.Hospitality can be highly risky as some asset types can be heavily affected by a recession and corporate travel restrictions. 

With only 100k to deploy the Midwest will offer cash purchases and more monthly cash flow and usually less dollar appreciation, long distance travel, and extra time to manage.

I would prioritize the day-to-day details of your life that will be affected by this decision - for example, regardless of what market you decide to get involved in, you will likely end up traveling there more often than other cities.

For midterm bookings (1-3 months) we list on Furnished Finder and market the property in Facebook groups designed for travel medical professionals and landlords to connect. 

The down payment plus closing costs, expenses to make the property rent ready, travel back and forth (do not purchase a property in a market that you have not visited and/or do not plan to visit pre and post purchase), and the required cash reserves puts your realistic purchase price around $150k.