Do you have an idea of what location you would concentrate in? 

If the answer is yes, thus would provide you the following benefits in replace of your stated negative of lower cap rates: economies of scale, ease of commercial financing compared to what you are doing now, lower cost of financing thus increasing ROI, time savings to concentrate on anything else you want to do, and the advantages of making a 10-31 exchange or cash out refi much easier.Just some food for thought as your cap rate loss may in fact be made up with all kinds of other advantages.

Unfortunately, the AirBnB supply is so heavily concentrated in vacation markets, that it can be hard to find one in suburbia when you're going to a wedding, visiting family, temporarily assigned to the local military base, refinery, or university. 

@Matt R. indeed a concentrated risk like a rental should be compared with a single stock - that would be apples to apples comparison on risk basis and real estate would seem like a poor strategy.

Advice to investors is to check on accounts and make sure you don't have a number of single bank concentrations and holdings per LLC and per individual are below the FDIC limits.

Ozone is basically like concentrated smog so it can really affect people with asthma. 

NOT because it hasn't worked well, but to simplify in order to concentrate on a different small business startup.

Should it mainly concentrate on the specifics of the property - rent price, utilities included, W/D in unit, new build, proximity to downtown, restaurants etc?

Ignore all the BS and drama, concentrate on the actual work.

You may have to work harder and think outside the box --be creative.I also assume that you are still single and no kids-- so you can live cheap for few years --no new fancy cars and no TGIFs --- Saying that --the best idea -- specially if there is no hope for job in your field in your area or if you dont want to do job -- you can stay on campus ( part time student ) or near campus --and live real cheap- and concentrate on doing some deals make cash --have a goal to have $50,000 liquid cash in three years --Next - Find Investors / Buyesr or Silent Partners first --that could be doctors, dentists, lawyers, your professors, advisors, parents, unlces, parents friends , other relatives, some rich students in your class -- Prepare a small business plan --strategy -- so you can explain and convince when you meet them.