There is a lot of variability in this answer and, like all things in real estate, it simply depends. 

1031 Exchange paid in cash, no mortgage.

The metrics I'm primarily focused on are: rent appreciation rate, property appreciation rate, economic growth rate, unemployment rate on the macro level.

I am now 29 and wanting to grow at a faster rate- and also ensure that I am making smart moves, rather than just grasping at whatever a bank will give me.

A great lake front home doesn't have to cost a mint but it sounds like you want something that is really fantastic which will bring a higher nightly rate.

Lenders or investors who have short lock up periods but have years of experience feeding their business with new capital would give me more comfort but anyone who is just starting and is promising a rate of return or return of capital in a set period of time would be alarming because they very well could be reliant on fresh capital to make good on that promise and that usually ends poorly.

If you want me to send you my link tree it will show upcoming events at my mortgage brokerage A and N (we host events with multifamily investor groups, and networking events weekly).

Crime rate is high in this neighborhood.

Heck, you should mortgage your home to the hilt, and borrow every single dollar you can at 6-7% and crush it on the arbitrage.

I think RI will continue to appreciate and over time as you(tenants) pay down the mortgage creating more equity.