He lives locally, is very responsive.

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

I currently live in Michigan. 

I lived in Cleveland for multiple months and have some great connections to help you get started investing in Cleveland.

I've done several of these here in Chicago, and currently looking for a single-family house to a live in flip in. 

However, I am thinking of having my parents who are retired living there part of the year and doing STR for the remainder of the time.

Split the $20 to buy yourself lunch and dinnerIf you are on the road, daily per-diem should cover a lot of your day to date living costs.If they send you on the road, you can potentially airbnb your house.Best of luck!

I live in New Jersey area.

@Jerry Zigounakisi'd pick a market close to you, or one you have strong ties in, rather than trying to get to one via math.can you invest where you live, or 1-2 hours from where you live, or where you like to vacation, or where you went to college, or where you plan to move someday?

If you live in or around Denver you've probably heard of the Park Hill golf course - if not, here's a quick rundownBackground: 1.