Since there are technically 2 cities called Kansas City and they are located in different states (with different laws and building codes), it's very important to distinguish between the two, local referred to as KCMO and KCK.So, a long way to ask, are you interested in real estate in KCMO or KCK to start?

Quote from @Steve Englehart: I currently have two long term rentals and am looking into buying into the short term rental arena.  

Once you do this conversion you can't change it back to a traditional long-term rental. 

Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health) and choose the one that is most “stable” with the best potential for long term tenancy.This advice is contrary to maximization of rental income, but IMO will reduce expenses of tenant turnover, property damage, property management fees so much that the difference in bottom line income will be quite small.  

If you’re not in a rush to tap your equity, holding off until rates come down could save you money in the long run.

For a while now, I had layered in Stessa.com for finances: expense management, tax prep, reporting, etc.

Price fair, don't get greedy, play the long game.

I have read the book on long distance investing and still am not too confident to get started.

Phoenix contains a rare combination of elements that have created an outstanding market for distressed property investments, including the following:Cost Savings: Distressed properties are sold below their market value and enable investors to take hold of properties at a trifle compared to traditionally listed properties.Strong Market Fundamentals: Being among the fastest-growing cities in the country, Phoenix ensures a high demand in housing and rentals, hence good potential for resale or income from rentals.Value Creation Opportunities: Most distressed properties need renovations; thus, such situations present opportunities for investors to increase equity by adding value.Population and Economic Growth: Phoenix remains among those cities in the country which are attracting more and more residents and business; therefore, this presents good, long-term appreciation possibilities of property appreciation and income creation.Challenges to ConsiderWhile the rewards can be great, distressed property investment is not without its challenges.

They hired an attorney who was skilled at assisting them stay as long as possible.