The real work is locating these properties and I've learned the best way to do this is to work in towns/areas that have online GIS systems that map; topography, wetlands, soils, etc. and assessors data available for download either from local sources or listsource.com.  

i would never tell a random person on the internet where they should live. 

I have personally owned over 200 cash flow rentals and sold them as it simply was not worth it..

. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal:  $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses. 

You can find it through the MNREIA web site or email me if you have any troubles.Type @ and the first few letters of a person's name to link.

I personally would use some of that $300K for your next property but not all of it. 

JohnFirst look at your states licensing laws, they can easily be found online.

It will be even harder as a young person with no life experience, and particularly no experience buying real estate. 

I started my jouney here in 2011 and I am still learning everyday - especially from others on this forum.My personal portfolio is located within Stamford and Bridgeport.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.