If you're open to out-of-state investing and looking for a BRRRR opportunities, check out Cleveland, OH.You can find distress off-market opportunities under 100k in B to C areas.

In Pittsburgh the out of state investors I work tend to have the least amount of turnover and headache by investing in single family rentals in B class areas. 

TK operators and landlords loved the idea but did not work for them vis a vi income and paying the claims. 

Quote from @Erik B.: @Zachary JensenWould the depreciation schedule have to be changed from 39 years to 27.5 years if changing from STR to LTR the second year of ownership?

The statefarm agent I am working with is assuring me that it will be "written as a seasonal/secondary home for you with the endorsements to cover the air B&B"Is this adequate or should I be looking for more commercial full rental policy?

https://brownbearkc.com/bear-b...

The agent in Columbus was encouraging of buying long term rentals in C neighborhoods while the agent in Raleigh was promoting short term rentals in B areas in Raleigh and Durham.

all the time, so I try to every now and then share it with others and answer any questions.Location: Metro DetroitPrimary target: Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: 1%-1.4% rule dealsROI: 8-14%Cash flow: $150-$300/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-7%+ (has been double digit for last decade)Location: C+, B-   Some Notes:- I don't actually save 15% for vacancy, maint, capex any more.

Now, you still have to comply with all of the standard 1031 rules -- including (A) buying properties that are at least as valuable as what you sell, and (B) moving all of your equity from the STRs into the LTRs -- then you may still pay some taxes even with a 1031. 

I live in Manhattan b/c of my wife's job and work in NJ.