The location and access to amenities make it a super desirable area so you need to keep an eye on inventory and competition.

I.e. if this property were located in Oakbrook/Centerville versus Miami Chapel/West Dayton, you will have a dramatic shift in price and operational ease.I would talk to brokers in the area.  

You'll be extra fine if you only buy in good locations where tenants want to live. 

where is this located? 

I would suggest going local first, if you can't locate a local lender that meets your needs, try the DSCR route.

You have any good thread reads and location suggestions for OOS? 

If you can spend 250-325k, you should think MTR, not STR, because that is more likely to scale in any area because of all of the different types of renters for MTR compared to STR, which is more location-based and amenities-driven.

Is it realistic to pass material participation test if the property located far from primary residence, like vacation rental?

We have an airbnb in PHX and winter is our best months of the year so it really depends where the property is located. 

The system generates a unique access code, which is only sent when prospects are within the property's location and during their scheduled showing time.