This strategy is popular among real estate investors because it allows them to generate passive income through rental payments and benefit from appreciation over time.

However if you live in Austin and have an idea of which neighborhoods continue to be popular year after year, maybe you just buy and sit on it for a lifetime of income.I haven't lived in Austin for years, but just like many other big cities, one thing to consider is looking at the smaller towns around Austin that will be forced to grow. 

You can expect that the most popular vacation areas might already have their STR's maxed out for that neighborhood.

Overall, NC has been one of the country’s most popular destinations for domestic relocations for the last 10 years, which should definitely give you a decent level of comfort to consider this place for real estate investment opportunities. 

@Justin Brittingham speaking from a fund manager and one who originates, I would say (maybe contrary to popular opinion) identify your lender and know what they require. 

DSCR is the most popular for this scenario.

Ive been doing some research seems like guesty, hostfully, ownerez, hospitable seem to be the most popular.

Popular for people around Colorado to invest here

Also used but less popular are the exemption for an intrastate capital raising and a  Reg A funding.  

I know Ohio in general has gotten extremely popular but I'd recommend checking out Detroit as well.