I am from out of state so wanted less maintenance in the short term while I build my portfolio and grow to the point where I am comfortable hiring a manager!   

Strategy 1: buy a duplex, live in one unit (for one year as a "primary residence) and rent out another unit as a short-term / mid-term rental on Airbnb.

Also, first thing, AirBNB is a platform where you list your Short Term Rental. 

A good company will have you fill out some easy online paperwork asking you some details about the doors, and they can get you transitioned into their system in 1-2 days, including reviewing your leases and notifying tenants about the change in management. 

I also suggest you post your listing to "Short Term Rental Listing Advice" on Facebook and let them give you more feedback as well.  

@James Wise LOL, Devil is in the details.

@Jemini LeckieIf investing locally is not in the cards I would do some research and pin point a market that fits what you are looking for and then reach out in the forums for that specific market and ask more detailed questions.

The short term rental business has been fine, up until this month where I saw the lowest bookings since opening.

These minor details are the kind that distract people from the path of success. 

@Ella Marie the Pro's are you can build long term wealth, the Cons are you can lose money if you cannot properly quantify risk.