Elon Musk started from an upper middle class setting and then bit into the American dream. 

@Nicholas Stout S8 rents are set by the number of bedrooms, that's pretty much it.The HUD guides are just that - guides!

If you’re open to taking a closer look at Memphis, I’d be happy to run numbers for you on some properties that match your goals.

We are also temporary heat providers for most large construction projects in and around Buffalo NY, neither I nor anyone in the industry that I know if has been contacted about setting up temporary heat for this project which is normally one of the first steps before a project gets into winter. thats a nice cottage industry winter heat.. 

@David F.As Russell mentioned co-ops are probably 1/2 the price of a condo and you would also have extensive costs to set up a co-op and typically it’s my understanding the builder funds the first 1-2 years of reserves.

There are two types of return from a rental propertyCash Flow & Appreciation.I normally also aim for a minimum of 8% return between Cash-Flow and Appreciation.Appreication, nationally, is around 2% to 3% annually.Therefore, your goal is to get the cash-flow to be about 5% to 6%.The issue is interest rates being very high, you would therefore, need to buy at a pricepoint where the numbers still make sense.You can always put down more of a downpayment to cash flow, but that will impact your cash on cash return calculations.Best of luck!

And @Michael Plaks is correct that setting up in GA didn't avoid the CA LLC fee. 

Use tools like the BiggerPockets calculators to run the numbers and ensure the properties align with your investment goals.## Financing OptionsFor Hard Money and Private Lender financing, it's crucial to build relationships with local lenders.

Also, set clear expectations with tenants upfront so they know how to handle issues like maintenance requests.How do you plan on finding all your contractors?

I am of the opinion that the best STRs are properties that don't compete with hotels - meaning that they are 4-5 bedrooms for large groups or have a unique location/setting.