But I’m thinking of getting into STR investment and become more active.I’m a complete newbie to short-term rentals (STRs) and eager to wet my feet in this area.

Quote from @Paul LaValley: I live in Tucson and know Tucson really really well so I want to start here and then jump up to include Phoenix area. 

I realize it may be a stupid one but I'm willing to look stupid if it means I learn something. 

@Miller McSwain thank you so much for this and for your time! 

Quote from @Martin Phinney: My wife and I are considering a move from the Seattle area to the Scottsdale area to be closer to her parents.

I love the more detailed analysis but I'm overwhelmed. 

Get to know other investors and learn from their mistakes.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

For more info on Cleveland you'll want to read The Ultimate Guide to Grading Cleveland Neighborhoods.

I'm 53, married with 2 kids less than 17 years old with debt only from purchases on credit cards and my home.