There are many good locations - I'd suggest that you play around with the "Market Finder" tool at the top of the screen here, included with your pro membership. 

You need to remember that, hopefully, this is a long-term play for you, so work with a trusted STR designer (I have great recommendations), and spend the money upfront so you can be the most successful in your area.

I also think, the flat rate ppl are playing to a race to the bottom. 

Hi Robert,Given you are looking to buy another rental (long term), a cash out refinance on the existing property would be a good play here.

There’s no real reason to jump into another market unless your goals shift and your current market doesn’t fit anymore—or if the market itself stops producing the results you need.Mastering one market and squeezing every opportunity out of it is a much better play than spreading yourself too thin and getting half-baked results in multiple places.

If you ever want to chat more about this... or if you're curious how these strategies play out in markets like Austin or Scottsdale... feel free to reach out.

Income-based valuation only comes into to play once you get into commercial property (5 units and up). 

Most of the bad noise right now is about downtown skyscrapers and REIT or Syndication apartment complexes where they played short term versus long term interest rates wrong.  

Paid a top local esigner to come have a look and all she did was insult our cute little place that was doing just fine.....But I think where a designer could add value is by suggesting unique areas, like game rooms, coffee bars, outdoor BBQ/play areas, and stuff like that. 

Then you hire a coach to accelerate your learning and take you to the next level.Using a sports analogy, it would be foolish to hire a basketball coach if your intent is to play pickup games every Saturday for fun.