I think a big value for Galveston (despite its warts) is that it is an ideal STR market for a recession/downturn (that hasn't quite seem to come yet despite lots of people predicting it, but it might be finally here). 

They can offer more predictable income and appreciation over time, especially in areas with growing demand.On the other hand, creating a trailer park could be a more hands-on investment with potentially higher returns.

Pros Of Long-Term Rentals:Stability and Predictability, Lower Turnover CostCons Of Long-Term Rentals:Reduced FlexibilityPros Of Short Term Rentals:Higher Potential Income, FlexibilityCons Of Short Term Rentals:More Intensive Management

Right now for owner occupants, I have recently seen low 5's for 30 year terms. we might expect solid appreciation (7%+) in single-family residences (SFRs) and small multi-family properties over the next 3-8 years, though predicting beyond a few years is more uncertain.I've seen many local investors successfully increase rent rates over the past few years.

Nashville should certainly be there - regs (but well regulated, predictable) and is the favorite trip for pretty much all SEC Schools (best city by far in SEC, drivable distance, Vanderbilt sells out typically >2/3 of the stadium to opposing fans, etc.)

It's the laziest possible path the outcome is predictable. 

You can use the free versions of Airdna and Data Rabbu to see how well those sources predict it could do. 

@Jordan D'Silva very difficult to anticipate/predict changes in national and local economies, politics, etc.Detroit has been on a 10 year run, that just seems to be getting better & better overall - but, there have been multiple potholes in the journey and there will be more.

I created a spreadsheet a while back that tracks rate changes historically as well as the rate predictions for the next ~12 months.

@Alex Silang No one can predict a world stopping pandemic.