You will also need to vet out contractors in the area to ensure you that they can stay on top of your project and will do what they say.

Meet other investors in your area and stay in touch with them; you can ask them questions that might prevent problems.Best to you!

Short term rentals are legal when the host is living in the same apartment as the guests and there are no more than 2 guests staying with the host."

Just personally, I would never do an absentee landlord kinda thing....Too many moving parts, too much to go wrong and cuts into your profit big-time....Sentimental value is one thing, but not if you end up hating the house down the road.....Stay local, plenty of opportunities in good ole AZ.....

Therefore, I don't have definite plans for how long I'll stay in Oregon, and consider the possibility of someday returning to the Austin area.

I am on fire to get going, and to stay on track with my plan I will have to buy minimum 1 property this year.  

I have a couple of friends who have several rental units in Gettysburg and said the rents are good and he has many professionals who stay for a good amount of time and pay on time.  

The housing market is always changing, and staying informed is the key to making smart moves.

So choice is staying stock market and making 15%-20% or buying property and MAYBE breaking even. 

@Scott Trench - have you considered investing in short term rentals, materially participating, and having the average stay be less than 7 days?