I've been trying to figure the same question for the past couple of months I live in Bergen county NJ and my mission statement when I've started looking was kind of yours, and I was looking for 8% cap rate as a target.Here's my 2 cents 1.

Hi BP friends...I have a mission in life to own vacation rentals around the globe.

I have a tenant that volunteers at the Mission every Saturday washing dishes, simply because they helped his family out when he didn't have a job.

Petr: Stick to your mission.

Where our STR is located (Mission Beach), my guess is over 50% of the units are STR. 

My mission now as a land lord is to provide this environment for other families in a market full of slumlords (while also making a profit).

I am in Mission Viejo and can get together at my local Starbucks.

It’s in the Mission District.

I am retired now, and I my new mission is to work with tenants.

So I'm on a mission to buy a triplex or a fourplex this spring/summer(2017).My plan:- Purchase multi-unit property around mid $300,000 range utilizing FHA loan and placing 3.5% down.