Location and paying attention to Nathan's points above about the immediate area are more important.

Quote from @Kornelius Friske: We have a STR located in peoria AZ. it's 6 beds (garage conversion) and about 3900 sq ft in total. our energy bill last month was $450 and has been hovering in the $350-$450 range since we went live in august.

I would also add that you join your local REIA chapter (Real Estate Investor Association) as it will allow you to network with other STR owners and get more location-specific information. 

I'm located in Central VA, I think research on school districts/military areas and hospitals are a really good start when looking for a great area to invest. 

“Few regions can match our economy, professional opportunities, affordability, location, and quality of life,” researchers said in a statement.Here are some of the highlights from findings.Growth projections in the Charlotte regionGrowth continues in MecklenburgMecklenburg County is currently home to 1.2 million people.

Unless you have discovered some hidden jewel, the traditional second home locations have all turned stale.

@Thomas FarrellRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Oftentimes the rest of our family can't make it so we just keep renting it and go somewhere else.I am thinking you will find that will happen as well.Can you tell us where it is located?

I've hired social media experts (a little different) that work under a similar structure and it's been working great.Not to mention team off-sites if you guys are located in the same area also help a ton.

@Josh Feit, as an Atlanta agent extremely familiar with this area, I know precisely which location this is in and the property type you're referring to.