Once you have selected this market, begin doing researching on the current regulations as well as the political climate regarding STRs in that market and whether or not there are any upcoming proposals on the market docket that may shift or change the current regulations.

Well done  

Here was my experience house hacking in my 20's as well: https://www.biggerpockets.com/forums/922/topics/1133476-hous...Cash reserves have saved me multiple times, but my properties were both NOT renovated. 

Hopefully things went well for you! 

Scott's book as well. 

If you don't learn to manage your investment well, you will eventually destroy your property, lose money, waste your time, or drive yourself insane.

Quote from @Michael K Gallagher: @Jonathan Greene thank you for the reminder, its often the fundamentals done well that win out time and time again.  

Is it possible, yes, although in this market it doesn't work as well as it used to. 

So you have to have a great property and manage it well.

Quote from @Kaaren Hall: @Jonathan Chan our account holders invest as lenders as well.