I would search for a property that has a low interest rate Fha or VA loan.

many houses in the midwest, for example, are very old and need major rehabs.i personally think out of state investing is more difficult than advertised, and much more difficult in the current investing environment, with: prices high; interest rates high; tremendous demand for inventory, by both investors and retail buyers; and good PMs, contractors, etc. booked up.here's a really thoughtful thread with the experience of another CA investor and lots of different responses:https://www.biggerpockets.com/forums/12/topics/1215726-break...and here are some threads about how it can very easily go wrong:https://www.biggerpockets.com/forums/48/topics/1159104-overl...https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1160450-run-i...https://www.biggerpockets.com/forums/48/topics/1137397-balti...finally, you also said you "don't have a lot of money to start with." 

Doing so also helps create some level of USP to a sea of growing inventory across platforms like Airbnb.With their introduction to paid advertising it’s going to be interesting to see how their algorithms change from a ratings perspective. 

They don't mind higher vacancy rates then SFH might be an option.  

Lower interest rate at 12% is $8,400 year ($42K for 5 years) plus his initial investment of $70K equals $112K.

Renting out a room is a great way to get started, and I wouldn't get too settled into the "going rate" use that almost as a floor. 

Strong job growth, low unemployment rate, and strong population growth.

However, before deciding on a DSCR loan, it’s important to analyze your existing first mortgages—including their rates and the current loan-to-value (LTV).

I would just be careful hopping back in now as interest rates and low inventory are making it very difficult if you aren't finding your own off-market options to buy.

We connected with a jet ski and boat rental company near our lake for a discount and commission per booking at one property.