I am thinking of using an apartment or condo to eliminate my commute four days per week and making it available on weekends for STR.  

Purchase price: $1,435,000 Cash invested: $3,010,600 Sale price: $8,400,000 We identified multiple lots around the light rail system in WA, where we felt that properties are going toincrease in value significantly, these lots were re-zoned from SFH to multi-family (MUR35mostly), we have developed, permitted and starting to build: 8849 Midvale Ave N, Seattle – Two combined lots, zoned for multifamily where we built 12 townhomes 23007 55th Ave W, Mountlake Terrace – 7 townhouses in a walking distance from thelight rail station, in planning stages with the city of Mountlake Terrace, WA

People want to live close to areas like Ohio City, Tremont and Lakewood, but they don't want to pay the huge rents in those areas so a lot of renters will live in neighborhoods like these that are within walking distance to those neighborhoods, but a lot less rent. 

It becomes harder to do long distance sales though.

Even though they could be walking distance apart.There is a lot of construction happening near the area that Stuart mentioned and that is certainly affecting values and rental metrics. 

The hour commute is manageable. 

It will go much further than someone walking you through two flips long distance and in buying a LTR when you can use the BP calculators for both of those.

For a property that is not within walking distance to the beach--how far away from the beach will still attract tenants?

I've never bought the property from a long distance, I always go and look/inspect/feel.

Not necessarily a far distance away but in neighboring smaller communities.