From what I’ve heard in a piece by Forbes, focusing on unique features can lead to higher long-term rental satisfaction... especially if your tenants want a few animals or more outdoor space.

The great thing about living in a high cost of living area is that your salary / wages are hopefully also very high.If you are a new college grad, I would focus the next 1-3 years on increasing your salary as much as possible(gain new skills, new certifications, change employers, etc).Once you make more money, you can easily get in a position to buy a property on a more frequent basis.Best of luck!

I mainly focus on do ing flips and flip to rent, but I also facilitate STR and MTR in the area too.

I'd suggest the path of being a HML (Hard Money Lender), focusing on JV's. 

@Kyle Carter just because a building has all section 8 tenants doesn’t necessarily mean that the cap rate will be higher on exit but it might attract a buyer(s) that are focused cashflow and not appreciation; therefore a lower price to juice the yield.One of my non negotiables if I were you would be to only buy in an area that is desirable.  

Hey Cyprien, I'm a realtor in the Richmond Area and focus on helping others with investment properties as well as buying for myself.

Combining short term rentals and a venue is a huge advantage because guests would not have to travel far and you could offer better rates as part of a event package.My current venue focuses more on baby showers, content creation and birthday celebrations rentals.

Focus on tenant screening, building a local team, and learning as much as you can, starting early sets you up for long-term success!

I would also focus on smaller deals, single family to 4 unit starting out, so you can establish some experience.

So feel free to reach out if there is something I can help you with related to your STR business.Alongside my work in revenue management, I have real estate investments in Canada, focusing primarily on long-term rentals.