Buy where you intend to live, where you know the areas best.

Unfortunately, over the 11 months he has lived there, he has only managed to pay the rent on time once.

For example, if you live onsite. 

@Holly Radice so I own in Barnum but do not do any STR as I don't live in the area.

They have already called a real estate agent to list on the MLS and when the agent comes over to take the listing, they tell the prospective seller that the dog poop in the living room has got to go.The rot in the bathroom behind the toilet needs to be fixed.

Just to present an alternative point of view regarding California residents investing in STRs, I'd say the gambit still works and works well.For one thing, you still get to use the Section 263(a) tangible property regulations' de minimis rules, which probably mean you can immediately expense most of the furniture and fixtures in your STR.For another thing, while for your California return you won't be able to use bonus or accelerated depreciation for the personal property, you will still use shorter 5-year and 7-year lives for maybe 25% of the improvements.But the big thing: The federal tax bill is far, far bigger.

The past tenant was a hoarder and the apartment has not been lived in or touched since 1999 (26 years)! 

BECAUSE THIS IS HOW THESE PEOPLE EARN A LIVING, BY SELLING THE TARDUS PRODUCT.  

I live in Matthews just a little south of Charlotte 

That doesn't surprise me about NJ, knowing what I do as a person who's lived in the tri-state area for 25+ years, especially since becoming a father and coming to truly appreciate what NJ has to offer offer.