We are closing on our first South Bend rental property next week, as our local market opportunities have become non-existant unfortunately.  

Quote from @Gio Kattan: I would check with a local realtor that are doing deals in this area and local PMs in the area that deal with STRs to give you the answer on that! 

Once you get out and find your local REIA or meetup, you will build confidence on top of the information downloads because people just like you will already be doing what you want to do.

If you want detailed feedback, post a link to the listing on zillow or your local mls so people can see what you are offering. 

We usually do mostly Furnished Finder, but I have seen people do Airbnb, VRBO, and local Facebook groups! 

Determine local/state laws regarding wholesaling and determine if (1) you need to be licensed in the jurisdiction you’re considering and (2) if you’ll be able to operate profitably while remaining legally compliant2.

Here you would sell to someone that can run their business form the home or the garage/workshop if that’s allowed by local code. 

For LTRs, prioritize markets with population growth and strong job markets.Wherever you choose, work with an investor-friendly agent who knows the local market and can help you analyze deals.

Although I'm local to Mt.

Until you learn to estimate yourself, based on your local costs, any estimate will probably be off.