Additionally, holding the property during the ongoing area growth has allowed it to appreciate in value, further increasing its long-term potential as both a rental income source and a valuable asset in my portfolio.

Out of state seems harder to break into simply because I'm not there - maybe Hoboken /Jersey city or further like @Eric Hajdu mentioned are better places to start.Out of state is not difficult to get into. 

I would appreciate any knowledge share, or tips and advice on where to gather information to properly estimate for such a project. 

Please contact me if you need further assistance or if you just want to chat.

This is my first extensively water damaged home that I may purchase. Surprisingly, it has nothing to do with the roof. The roof and attic are the best parts of the house, 0 problems.
Main line, laundry line, kitchen ...

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

Any tips or resources are appreciated.

However, with the frequent incidents and the persistent odor, even after cleaning, I’m beginning to wonder if this has become the norm for STRs in urban areas.Any advice or tips on how to prevent this would be greatly appreciated!

If someone was robbing me at gunpoint i'd much rather cooperate and give them whatever I had than try to escalate the situation and further risk death.

Thanks for the tips @Mindy Nicol, I do think MTR would be easier to manage for me allthough I do have time for a part time job, I see where you are coming from with repair costs and all and STR sounds like it can be a pain (I followed a few groups on facebook and have read horror stories :D ).