Figure out all the extra expenses of utilities, management, perhaps hot tub, internet etc. go low on income and high on expenses and see how the numbers look.

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

One they fixed (AC not working), the other they got to a barely acceptable state (hot water and pressure).My favorite part related to the conference was on shuttle to the airport. 

A hard money lender who does NOT require a "subject to" appraisal  (which is an appraisal done with your scope of work in hand, and the appraiser gives you the after repair value) is 100% NOT doing you a favor. at all.

I was debating this as well, but since this area is not a really hot market I wasn't sure if starting the price off low would work to create a bidding war or not.

Get a few quotes. and if you do not do it, when you go to refinance into a long term loan the appraiser will likely mark the report as "subject to" a structural engineer report of the foundation. and you will not be able to refi until you have done the  work that is required. 

(forced air, steam radiator, hot water baseboard, etc)?

Your debt % is 50%, therefore, 50% of the net income (income after expenses, including depreciation), would be subject to UBIT.

To be successful right now in STR, you either need to go all out and beat everyone else on their table stakes (pickleball, basketball, game rooms, saunas, hot tubs, etc.) or you need to understand the market better than anyone and pick a niche for that market.Right now, you are one post in and just asking for someone to tell you anywhere in the United States to invest, which is silly.

Right now in Texas, we're seeing a lot of demand in both areas, but suburban spots around Houston and Dallas are especially hot due to affordability, space, and work-from-home flexibility.