If under 1M net worth, focus on buying rentals nearby. 

If you don't live nearby, that's fine!

There's a lot of research you could do on VRBO/AirBNB/AirDNA to compare similar properties in terms of rates and occupancy, but my experience is that Gulf Shores and Orange Beach are more popular because of the nearby amenities, nightlight, recreation, and other things to do. 

Leader Bank has great high yield accounts but if you want somewhere local I would Google banks or CUs nearby that would give you the best local service. 

Are there any other Event Rentals nearby?

Many buyers opt for the sewer scope for peace of mind, especially in older homes or homes with large trees nearby. 

I had some second thoughts on OOS deals as a rookie, but I'm open to any new opportunities in any nearby markets. 

When I was ready to mail I had 52 properties on the list so I got 100 blank postcards from amazon, 100 postcard stamps from the post office, a google voice phone number (free, which I set to display as the google voice number for all incoming calls and stored that number as "Property Leads"), and a virtual mailbox for a nearby return address.

Since your parents live nearby and have had success in real estate, partnering with them on your first few deals could be beneficial.

If you're super lucky maybe same attorney will do two in a day, one at 10am and then to a second nearby county at 2pm.