I'm terrified enough of doing this out of state, so I am not interested in additional complexities with BRRRR.

I would guess many government workers are renters like law enforcement and state department as they rotate in and out of the field offices to DC.

I have family in Houston, Dallas, and the Valley, I was networking with brokers in San Antonio, but the Taxes seem to be quite high as well in that State, although much favorable laws/regs on the landlord side.

If you like where you live, I would explore investing in a cheaper out-of-state market. 

How are you finding FLIPS in your state? 

This can provide a better depreciation benefit than traditional STR real estate.If permanently affixed to land, it qualifies for real estate depreciation (27.5 years for residential properties).Considerations:Zoning laws and campground restrictions may impact legality.Self-employment tax risk arises if you provide substantial guest services.Vacation home rules apply if personal use exceeds 14 days or 10% of rental days, limiting deductions.Audit risk is high, so keep detailed records of participation, expenses, and rental operations.Given the potential tax benefits and complexities, consulting a real estate tax professional is advised to ensure compliance and maximize deductions.This post does not create a CPA-Client relationship.

Quote from @Michael Addison: Hello,First time out of state investor from CA interested in Cleveland. 

Hi all,Posted on biggerpockets my first deal back in 2011, this forum gave me the confidence to get it done. 

If this isn’t the right forum, please let me know and I’ll remove the post.

You were scared and probably had analysis paralysis, but your post is half acceptance of your own failure and half blaming the market.