Are there other strategic locations where we draw some of the Charlotte population for STRs?

For Conway and Titusville/Melbourne, focus on:Occupancy rates: Check how full local rental units are—this will give you an idea of demand.Rent trends: Ensure rental rates are stable or increasing.Local economy: Are jobs, population, and amenities growing or declining?

It’s about 40 minutes from a high-income populated area.

If zoning is a challenge, it could still be a really attractive mid-term rental and there's some other creative things we could do to make it as attractive as possible to the investor population here.

Think beyond year 1 and resist the urge to go for cash flow in a cheap market with little to no population growth.

I have heard population growth, combined with income to rent ratio  & crime rate is a good start.

Recent decades have seen Austin’s skyline, business environment and population redefined.

Your theories on increased supply and the Southern CA population being willing to travel further are interesting.

My family and I decided on Reno because of the low property taxes (that don't reassess on the sale), much more favorable tenant/landlord laws than CA, diversified job growth, population growth, close proximity to Lake Tahoe and the Bay Area, and the overall weather is not as harsh as a lot of other areas across the country. 

It’s mainly because of their aging population and fewer births.