Everything depends on your current and future goals.I live in the bay area of California.

.- 20 vs 40 it all depends on your experience- in-state vs out-of-state ? 

It totally depends on what “1 STR” is.

In addition, you have to fire suppress the home which typically costs around $40-$50,000, depending on the size of home.

It depends on what your goal is.

Also, depending on the purchase timeline, exploring a delayed purchase refinance could be a viable option.

Seems like there's a big range depending on who you ask. 

This will be a "3/4 full time" short term rental / second home while I do plan on visiting once every month or so for the week/weekend depending on vacancy. 

This may or may not be possible, depending on your situation.C.

@Jason O.I've rented to over 700 students (under and grad) and I understand the market well.To do it successfully: time it with the academic calendarSept to May: flat price including utilities and furniture for max revenue, can include a cleaning service to keep an eye on the rental.May to Aug: depends on your city density and the amount of summer classes, increase the price to accommodate the demand or decrease it accordingly.