Excluding the debate about getting into business with family.  

I would like to have at least a couple properties before moving out of state that will at minimum break-even on cash flow as a LTR with property management long-distance.Other info:Looking to move out on Memphis with my wife in the next 2-4 yearsLooking to start a family in the next year or soComfortably have ~50k ready to invest sitting in HYSA, excluding Cash reservesHave an extra ~$70k in stocksMost interested in A- to C+ neighborhoodsI currently own & live in a 2/1.5 Condo locally (3.5% interest rate)Not allowed to rent it outHOA fees have risen to where PITI + HOA = $1100/mo.Have ~$100k trapped equity, good zip code I could sell quicklyOption A: Purchase another primary home locally I could live in for 2 years (lower interest rate), with intention of eventually converting it to LTR when I move out of state.

It would be great if there were no snake oil salesmen and you could trust everything you read online, but it just isn't the world we live in, so due diligence is the price you pay for a successful passive investment.A few general notes: Steer clear of anything that guarantees tenancy terms (can't be predicted or promised) or excludes any expenses in their ROI calcs.

This off season, mission beach was the most dead since the Great Recession (excluding COVID lockdown periods).  

And if they don't hang up on you, and try to sell you a policy, make sure you read it and find the part where it excludes short term rentals.

Even when you exclude the ones who are simply renting out their own spaces - second homes, pre-existing ADUs, spare bedrooms, or their RVs, the number of people that started with less than we have is likely still significant.

Just divide their purchase price by their gross heated square feet excluding garages. 

.** Excluding sub $100K units from Jerome Ave., Plimpton Ave., and Anderson Ave.Assuming your unit's value is consistent with the average unit sale, you'd have a roughly $90,000 gross profit. 

Perhaps, hiring a local co-host (or even a boutique manager) who is passionate about your property’s brand might be the sweet spot.PS: One interesting fact—Evolve’s 10% fee often excludes local vendor costs like cleaning, which can add up to an additional 10-15% of revenue.

At least within this question let's exclude the US market, taxes and laws since I am far from investing on that market.