Quote from @Ben Russell: Although I agree the leases and the legal implications of "Mid-Term" rentals and "long-term" rentals are closly related, I don't think the leases should be identical. 

It falls short of the 1% rule which with current rates is not sufficient in most markets to have achieved real cash flow after properly allocating for sustained expenses. 

With regard to the proximity to the beach, I tend to have a beach distance of 15 min or 5 mile rule, whichever is less. 

You'll likely need to be in a C/C+ neighborhood to find the 1% rule, but you can still break even or sometimes get some slight cash flow in the B neighborhoods of Columbus.

Things like the 1% rule right off the bat, especially with properties that I know are undervalued, are good indicators of a "good deal."  

Is there any good rules of thumb to estimating the cost of a boiler?

Rules are super landlord-friendly and we see positive cash flowing deals with lots of potential for appreciation.

This is how I would recommend doing it:First a caveat I am in Tampa, FL and do not know any rules or laws for CA or dealing with the permits for Joshua Tree.1.

Consider the "2 of the last 5 year rule" to avoid capital gains. 

Remember, successful asset management is the difference-maker in real estate investing.Two properties could look identical, but how they are managed is the real game-changer