I didn’t see your location in your profile or your post, but assume at least 17% state/federal taxes leaves you with $10k/yr. 

With that being said I'll obviously be focusing on out of state.I know Ohio is mentioned a lot around here, specifically Columbus, and I'm an Ohio State alum, so that would be pretty cool to secure my first property in Ohio.

Its market-ready condition and strong local demand made it ideal for a fast, profitable transaction, aligning perfectly with Partner Driven’s strategy of securing high-yield properties in promising locations.

When choosing a location for your first rental, it’s great that you’re considering factors like crime rate, population growth, employment rate, and price-to-rent ratio—those are all key metrics.

So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years. 

Most lawsuits against landlords involve wrongful eviction, security deposit disputes, and Fair Housing Violations.

I understand that they operate in real estate under one of a few exemptions from registering as a security with the SEC.

Depending on your debt to income, you might have to sell or have an executed lease to secure financing to buy the second home.

Given the property is located in the Poconos and the property is vacant more regularly as an STR there are proactive measures  you should  be taking such as making sure there are heating sources so that the plumbing does not freeze and ensuring there are no blocks in the plumbing lines with routine checks.

Like the saying goes - much is about location, location, location.