for example... where you have family and visit frequently, or where you like to vacation, or where you went to college. 

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When looking at an LLC, or any entity structuring, there are two angles to consider: tax benefits and asset protection.I frequently see asset protection lawyers recommend an LLC for each rental property owned for liability purposes.

I personally invest in short-term rentals in southwest Michigan because I live in the Midwest, it is an area that I frequently visit, we find our returns are strong, and they have approval for short-term rentals .

The good thing about the MTR space is that this happens much less frequently than it would with an STR.

Access to restaurants, snorkeling, casino, Truck Stop, etc. limited resale market, no financing all cash deal, I like Belize.  

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The normal local who do whatever it takes to live here and most that I know do not move frequently once they lock down an affordable LTR with a good landlord (until they hopefully buy their own place) and third type are those who have recently relocated.

We had previously lived in the town of Lafayette, which was 2 hours away from New Orleans but we frequently visited that city.

I have an agent colleague in the Rochester area that deals frequently with investors.