For example, here in NE PA, you can buy a 4/2 on a lake for under $500K while in CA, $500K will get you a starter home in most cases. 

A "lake house" might be in a residential zoned area where a commercial use would be prohibited or at least require a variance (approval) to make an exception.

. :)Also if you look at federal forest ownership maps you will see that Huge areas are checker boarded with private ownership .

Hi Amanda,Lake County, CA is a unique place.

Lake house, cabin feel, waterfront etc.

You could reach out to a few Property Managers in Salt Lake City to see if any of them would be able to give you advice for the area, as they would be familiar with the region and what to expect from the investment! 

I'm in South Loop near the Loop, lake, Grant Park, CTA, and a variety of hospitals / schools, so renting out the room on a mid-term basis (32+ days) for a premium was the best strategy for me.

I built one 2 years agot just under 3k sq ft but on a busy corner so it only brought 1.5  but that was the cheapest new build in Lake Oswego at the time that was not attached IE detached SFR.And in Vegas 3 mil while not brand new will buy you a pretty spectacular home..

When you are there, you don't think of it as middle-of-no-where but an exciting place with acres and acres of civil war memories but in fact it's just in the rural PA - fields and forests/game land.

We're right next to CA but get the benefits of no state income tax, 4th lowest property taxes, much more friendly landlord/tenant laws, no serious weather, proximity to Lake Tahoe, stable job growth/population growth, etc.