My suggestion, is you visit all these potential locations with your family, and see which area calls to you, which areas you can see yourself enjoying, and allow the STR/MTR strategy take the second seat to your enjoyment and lifestyle vision for you and your family.

Two very different lifestyles and if you're an outdoorsy kind of person, you're going to regret moving to Phila. 

As part of our retirement/less active lifestyle planning we are planning to start purchasing STR properties in 2023. 

@Jason Carter I owned two B&Bs for years which provided a nice lifestyle and loads of skills none of which were transferable to a real life job situation.

Think about your lifestyle and wealth strategy in relation to real estate.2.

Anyone thinking about home hacking will benefit greatly from your expertise on managing HOAs and how they affect various rental schemes.Ultimately, developing a plan that complements your lifestyle choices and financial objectives is the key to effective home hacking.

if the property is $100K and the rehab is $60K you'll need 10-15% down plus closing costs plus holding costs - conservatively 16-24K + 5-10K + 6-12K = 30-45K at leastand you don't want that to be all your savings... so you'd need separate savings and emergency funds - i'd want 25-50K depending on situation, lifestyle, etc.so 50-100K i guessbut that's just a horseshoes and hand grenade estimatethese types of questions are hard because we don't know much about you or your financial situation

"Passive" from a lifestyle definition is very subjective.  

Former Lifestyles trainer Steve Davis has started this and has some Dallas trainings and meetings periodically.

Other people may do deals like these to just fund their lifestyle/passion projects.