My recommendation would be to choose potential markets - in several price points - that have strong rental demand and year-over-year rent increases and that also are in markets that are appreciating. 

It’s crucial to ensure that you’re compliant with local zoning laws and HOA regulations related to vacation rentals, as these can affect your ability to rent the property.Overall, while it can work well, especially if you're looking for income from rentals, make sure to have a clear understanding of the financing rules, potential restrictions, and the financial risks involved.

Under either plan, do they do rent increases over the 3 years?

Quote from @Paul Azad: SUPPLY "About 2.6 million Baby Boomers die each year, but that number is expected to increase to nearly 4 million by 2037."

My main motivation to eagerly learn is to achieve financial freedom and hopefully one day be able to retire my mom.  

@Rory DarcyRecommend 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?

In larger multifamily investing it's about finding opportunities to increase revenue and/or decrease expenses to drive value.

Where comps come in to to compare "cap Rates"  (a measure of financial performance) of recent sales. 

It's just a matter of knowing where to go....oh and this is possible with 0% origination fees and without increasing the rate...not a bait and switch, i have a different compensation model. 

I am working on increasing my knowledge and skills on the accounting side of investing.