I am currently working to find ideal properties.

We like the short-term rental idea because we could stay at the property ourselves when we want - summer break, spring/winter breaks, etc.Our budget will be right around $1M or less ideally, and we would like a short distance to the ocean.How likely is it that we could find a property as described above and have it cover or come close to covering the mortgage? 

Ideally I wanted to live in Lake View as that's my dream neighborhood, but I just didn't have the funds/income.

Ideally, we'd like to acquire one or two duplexes that meet the 1% rule and provide us with $1,000–$2,000 USD per month after property management fees and other expenses.

.), it's not ideal.

Obviously the ideal way would be to split the lots and rent the lots to mobile home owners but that seems like a very small market.

To help support that avatar, try and have on-site parking and ideally a place where a large work truck can be parked without issue (think fully decked out F-350). 

Keep the timeline to own minimum 7-8 years, ideally 12-15.

In playing with the numbers a bit, I'm seeing a trend of atleast 2% rent to price and (ideally) < 7% mortgage rate needed to achieve a decent cash on cash rate.

No active projects yet, but I’m gearing up to dive into multifamily properties, ideally 16+ units, with a focus on creative financing and NOI optimization.