I like the idea of out-of-state STR in a less expensive market.

It wouldn’t work in a red hot market like we had a few years ago where everything was selling super fast, but in todays market there isn’t as much urgency to see properties and get offers in immediately.  

If you got a sight unseen, off market offer it could be a low baller.

My first piece of advice would be to focus on understanding the market you’re interested in.

I also have $102k in a money market account that currently earns about 4.5%.

You'll have better luck analyzing a few properties a month from investors, wholesalers and realtors that can find you off market deals.

Excited to hear more about your projects and experiences.What markets are you focusing on for your flips and buy-and-holds?

You have to know the market and ARV.

Now there are tertiary markets in the US that will be low value assets but not super high risk those are your smaller towns but your upside is severely limited.

Research the sponsor's track record, past performance, and the market they’re investing in.Understand UBIT/UDFI – If the syndication uses leverage, your SDIRA might be subject to Unrelated Business Income Tax (UBIT) on the leveraged portion of the income.