I'm in the Akron / Canton Ohio area and have a very diverse market here, but with that come a vast array of different people to talk to.

Thanks for reading and any input you can give to me, as this forum is full of many diverse RE minds!

There are other investments that can create a diverse investment portfolio to lower the risk of losing money. 

If its my 1.5 milly, I'm targeting IRR deals north of 17% IRR, run by professional proven sponsors, diverse assets, metros, 50-100K per deal, cash on cash criteria double digits.

But in markets where the returns a little more diverse, I think there is more value placed on good old fashioned customer service, marketing and what amenities the property provides that will dictate your actual occupancy and nightly rates. 

@Caleb Heimsoth thanks for the advice, I definitely want to have a diverse portfolio in the future, but will probably start out with a turnkey 

It has a strong, diverse economy but I don't know it at the ground level and what the cash flow would look like.

Population growth, Employer type diversity?

Account ClosedI don't know Huntsville all that well but can speak to Birmingham - it's been a pretty hot market the last few years but is big and diverse enough that there are still plenty of opportunities for a great ROI while staying out of the rough parts of town. 

If you are looking to net 120k per year and don't have 1 to 1.5 million lying around to invest in a diverse portfolio of secured, unsecured and mezzanine debt, the fastest way would be for you to be the syndicator or investment manager of a portfolio of note investments.