Of course this all depends on if you are buying locally, right?

I wouldn’t purchase a STR property anywhere it wouldn’t work as a MTR or LTR unless its local economy is based on STR.

Other international markets may be too opaque for me, and I'm definitely going to invest in China as it's not possible to even have more than one property in your own name (to the best of my knowledge) and the local government can find many ways to screw you over if they wish to.

A client of mine recently invested there and raves aboutt the ease of finding solid contractors who stick to the budget.One piece of advice: before jumping into any market, spend time understanding the local economy, demand drivers (like job growth and population trends), and the landloard laws.

Getting out to the local meetups, in my opinion, is one of the most important things we all can do as investors. 

Some areas of the west coast are allowing multiple units to be built out on a single parcel and in these higher COL areas, it's a boon for the homeowners, renters, builders and even for the local governments that are collecting the building fees.

Laundromats are open to the public, and if the local neighborhood has a high crime rate and transient population, those can be potentially expensive problems that can affect your business.

You’re absolutely right—LA is a tough but opportunity-rich market, and I’m putting in the groundwork to make the most of it.While I’m starting local in LA, my focus is expanding across California, Nevada, Arizona, Oregon, and Washington.

I'm pretty neutral on the local market outlook for the next year. 

Are you local and can you oversee renos?