That alone could ruin the outlook for you, so just make real sure of the physical condition of the property.

That tells me that the lenders have a very positive outlook for first time home buyers.

If you ask nicely and promise not to share, you can usually get good financial information on the properties that are currently operating as a STR.If you're just starting out looking, you may not be aware of just how many cabins out there are poor quality builds due to the lack of codes.

In general the best initial cash flow markets have poor appreciation and poor rent growth outlook.  

You haven't provided information about this, but understanding the long-term economic outlook of your target city is crucial.A local investment team is crucial for success.

If you have some house skills, that helps, but when you go out looking for partners it usually means money and people don't want to get that vibe in their first conversation.

What is your outlook on the industrial market in the bay area in the coming 15-10 years?

Remember from above the Teak industry outlook, plus you don't have to sell on a down market, you can just let the trees keep growing.Keep in mind the markets are totally different down there. 

Is your outlook long term?  

I've helped 6-7 different investors move money from Oregon to Wyoming in the last 15 years and they are all happy they made the move.Consider finding a market that has a better long-term outlook, economically and legally.