Also, for those who invest OOS, do you find one market you specialize in or do you tend to bounce around and cherry pick from markets in several locations? 

I can say I'm biased because I'm located here, but the numbers work and it meets all your conditions.

The break-ins happened on 2 separate SFH that are not located near each other.

I’m ideally looking to buy that first property in San Diego.Thanks The best way to beat the price of the San Diego market is STR or by the room rentals in an excellent location.

The location is key, with easy access to transportation, parks, and the rich cultural heritage of the area.

I find it's very personal, and dependent a lot on your goals, resources, risk tolerance, location, experience, etc.

If it's a good asset(meaning primarily good location), you eat the 5.3% cap no problem you own the physical asset.

However, after receiving the survey results, I discovered that the house is located less than 1 foot over the sublot line (see attached image).Here are the options I’m considering:Rent the current house for market value (~$1,500–1,600/month) and convert the detached garage into an ADU to rent for ~$1,000/month.Relocate the house to split the lot, then sell the newly created lot (~$100,000) while renting out the existing house.Relocate the house to split the lot and build a new home on the second lot.Demolish the current house and garage, split the lot, and build two new homes.At this time, I am uncertain about the cost of relocating the house.Questions for the community:Has anyone faced a similar situation?

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

Hello, I am also located in Toronto and have around a decent sized portfolio in Cleveland.