It was a fun realization so I thought I'd share it here.I purchased my first real rental 11 years ago off the MLS for 108k (put 20% down).

Buy box: Location: Approx. 30 min drive to Boston Heights, for workNeighborhoods: Decent walkability score - not far from shops/restaurants/trendy neighborhoodsIdeal tenants: Close to hospitals/universities/schools for professionals/students/familiesBudget: $175-250K - Buying w/conventional loan, 5% down/ approx 20K reno.Property type: MFH 2-4 units - preferably side-by-side, with a yard we can fence for our dogUnits: 3+/1+ - better if 1.5/2 bath per unitTimeline: Plan to live there for 2 years, but possibly only 1 year if we find another investment opportunityGoal: Focus on appreciation - would like to see cash flow in year 2-3 (the year we move out), including overhead (Vacancies, Maintenance, Utilities) and budgeting in PM if eventually we don't manage ourselvesValue add: Opportunity for some forced appreciation, but not a full reno - cosmetic upgrades and updating kitchens/baths while we live in one unit.

I will not be starting a fun. 

They are fun and actually sort of easier to build than a standard home for a DIY person.I think I could build an A-frame.

It is fun for me to compile my tax data to give to my CPA.

Fun to dream about!

Fun fact: I used to lead data team in realtor.com so many of the data inside the market analytics was my project 😀

That's kinda what I was trying to say....why buck the odds, just go find a saf(er) and fun way to make the money you need to be happy and follow your dreams.....The OP is doing the opposite IMHO...rentals by the room, now Sex Offenders....waiting for Section 8 or flipping houses in the Gaza Strip....."

Most STRs are generic, cheap homes with lots of paint and trendy but cheap furniture.

BRRRR's sound a lot more fun!