Under $50,000 even better.I made the journey out to Memphis last year and got a taste for what I could be getting myself into when it comes to these lower priced houses.  

@Shirley LayerA number of variables, such as your tastes, long-term objectives, and financial status, will influence your choice.

@Don Konipol, it’s not that bad but it isn’t my taste either.

Without exception, every single person said that the $50.99 cake tasted a lot better and it was more moist and flavorful. 

REO - usually a POS that needs a ton of work, likely priced 10-20% below mkt2. short sale - have to wait around forever for acceptance, condition can be spotty or great3. traditional seller - mom&dad havnt updated their house since 1980, and it shows4. traditional seller - mom & dad did update cosmetics (to their tastes usually, not universal appeal), and now want over market price5. my home that is near brand new inside, updated to universal HGTV tastes, usually most of the following is new (roof/furnace/h2o heater/windows), priced a little below marketMOVE IN READY

If you seriously want to have STR across the country this is a good taste in what to expect as a host.

Any investment should be made with personal taste so you have to find areas you like before asking others what areas they like for profit or living.

Now that we've got a taste of what real estate can do for long term wealth and financial freedom, we're hungry for more medium/long term rentals!

Given the state of the market, keep the following considerations in mind:Buying a Primary Residence:Pros: Building Equity, Stability, Potential for AppreciationCons: Upfront Costs, Responsibility, Market UncertaintyRenting a Primary Residence:Pros: Flexibility, Maintenance Responsibilities, Fixed Monthly CostsCons: No Equity Buildup, Limited Control, Rent IncreasesUltimately, your particular situation, financial objectives, and personal tastes will determine whether you should buy or rent.

Stuff like this gives renters a bad taste in the mouths.