Can you work elsewhere and make a similar amount of money but pay a fraction of NYC prices? 

PPC is getting quite competitive and expensive so I don't know how long it will last. 

I understand that I must be competitive but I am not going to price myself into a loss.  

Yes there is rent increase but only to the extent of what is reasonable with your competition.

I am a little concerned about starting off in San Diego, cost of living is very high- and the market seems to be extremely competitive.

Both were purchased at a price that I can (or already have) made money at, but the competition at Harris Co. is really stiff - I've heard more so than Fort Bend but I'll let someone w/ experience in both confirm. 

Obviously, New Jersey is a competitive, expensive market where the good deals are gone before you know it if you don't know where to look.

I understand that margins might be tighter, and income may not be as attractive as the STR market, but we also don't have the capital, time, or competitive edge to deal in the STR market in the 30A corridor right now.Don't get me wrong...

I can say the college area has many many apartment buildings at low prices so they would be your competition.

You might have more competition there but your odds are better.