I think this might have been hinted at in this thread but if you are going for a purely financial decision, and want to do STR, I would stick only with existing tourist vacation destination locations that have been that way for some time.  

I feel that someone shopping purely on price, also has a larger propensity to have other issues that may make them a less than ideal tenant.

If the lending party is not expecting any sort of capital or profit interest, then just bring them into the deal as the pure lenders.

That could indeed be the best choice but just consider - If it's already hard to treat this like an pure investment decision now, think how hard it will be once you get into it....

Buy something move in ready or that just needs minor work so it is not too overwhelming and removes some variables from the equation.House-hacking and buying a pure rental require two different approaches in my opinion. 

Im pretty sure I will be solid in the long run and since i will still get pure cashflow I'm going to go for it.

. - Have enough (take home after tax pure cash flow) from my properties to match my current w2 net income ( which roughly 7500$ to $11000 monthly)- Not create a lifestyle where I am so immersed in my real estate investments that I cannot enjoy life.

. - Have enough (take home after tax pure cash flow) from my properties to match my current w2 net income ( which roughly 7500$ to $11000 monthly)- Not create a lifestyle where I am so immersed in my real estate investments that I cannot enjoy life.

Purely from a numbers standpoint, the deal looks good. 

Have you thought about a specific sub market you want or is it going to be purely on numbers and what’s available currently for sale?