@Nicholas L.Thank you for the questions and response. 

Some folks have already given good advice, and I want to add a quick tip for how to get data on potential STR properties.

Here is his latest analysis...I hope it helps: For the second month in a row, the number of active listings declined sharply.

Welcome to the community and be ready for a huge amount of information at your finger tips.

• Any tips for maximizing house hacking opportunities in this area?

I need some tips for investing when your immediate home is a HCOL area.

It is usually pretty significant and might tip the scale in your favor to get them to accept your offer. 

Welcome to the community and be ready for a huge amount of information at your finger tips.

A good real estate accountant can save them thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend that they find a tax accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend that they look for a accountant willing to work with them throughout the year, who can help them strategize and who is responsive when they want to know the consequences of the financial decisions they are making throughout the year.Good luck.

If so do you have any suggestions or tips for best practices to do this?