If you give me some cross streets I can look for you at other elements such as crime, schools, rent/price trends in that area. 

The main reason is because local governments are getting quite aggressive trying to shut down STRs and creating new taxes etc for them.

Mainly for travel nurses but for anyone looking for the same kind of rental.

East Cleveland, Slavic Village, and South Collinwood are the main ones.

So this post is to be mainly geared toward to help set expectations for out-of-state investors, and I'm hoping for some solid contributions from people who are actively (or recently) involved in successful acquisition/disposition of smaller MF in the Charlotte MSA (broker, owner, lender.. etc). 

The monthly rent would likely be lower, but the entry costs and potential regulatory hurdles might also be less.Here are my main considerations:Rental Income: Higher in Berkeley ($2k/month) vs. potentially lower in the Midwest.Appreciation: Likely higher in Berkeley.Management: Easier to manage the ADU since it's close to home, but more regulatory headaches.Diversification and Simplicity: Potentially less hassle with a property in the Midwest.Given these factors, what would you recommend?

Varies depending on the size of the rehab, how long it will take, etc, but those are my main rules of thumb.

@Michell ChaseThe main difference between W2 and 1099-R income is that you have a much easier path to qualifying as a Real Estate Professional without a W2 job.Whether or not qualifying as REP will be helpful to you is case by case. 

Cash flow mainly, and in an area that's prime for growth yet has a smaller town charm.

Total home sqft is 2343: main house is 3b3b 1783 sqft and ADU is 1b1b 560sqft.