Quote from @Andrea Wellman: Would like to invest in short term rentals to start and learn from this forum and experts.  

Instead of throwing your deal out to a bunch of strangers on the internet, I recommend you do your research to find a local expert with 20+ ACTIVE years in real estate in your market.

@Jason Khoury I purchased my current residence, a duplex, from a local non-profit about 5 years ago.

This strategy aligns well with the buy-and-hold model.Leverage Local Expertise: Partner with professionals like real estate agents familiar with rental markets and property managers who understand tenant needs.

Stairs are the only way to get in, no grab rails in the bathroom, ramps that are too steep, etc.From what I've read, all commercial businesses/buildings (including ones before the ADA was passed) have to comply with the rules, unless it would be outrageously tough to fix (like installing an elevator in an already built building).Are all these local business just not complying and taking the risk, or am I missing something? 

I live in Phoenix and my business partner and I put on a couple local forums for investors like yourself to network.

It may be best to partner with someone that has done one before or somehow is a local expert on lot splits.If you can add a bathroom into existing space on high cost property it can add a lot of value.  

For several reasons (property taxes, politics), I would prefer to begin real estate investing somewhere other than locally. 

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

I disagree with asking your CPA what they like unless your Tax CPA is an expert in the same specific industry you are in.