Generally, higher cash flow means more potential work and more monitoring of the property, two things you'll do much better if you invest near you. 

appreciate all the advice and I'll be following up with some of you to pick your brains as we get more involved in the due diligence and underwriting of potential deals.One thing I should have mentioned is we have a couple of relationships with a few private investors (family, friends, etc.) who have expressed interest in providing the capital if we find a deal that pencils.Thanks for all the feedback so far everyone.

I listend to BP podcast every night.. you guys are great, thank you.If you're evaluating a potential deal, I'd be happy to analyze it using my model.

I'm not cancelling out any other responses here with the one I am presenting, i am just adding a potential.

I got into this niche due to the low entry cost and the potential for great returns in a short period of time.

Hey, all.I recently bought my first property, a multi-family that I am house hacking. 2 units currently, with a third floor that used to be a unit and will be again. I’m living upstairs with a roommate while I Airbnb ...

. :)Potential Markets:Gulf Shores, ALCorolla, NCRockaway Beach, ORMyrtle Beach, SCCharleston, SCPort Aransas, TXOcean Shores, WA** I assume the California coastline is not cost-effective, I never see it on a list of recommended vacation rental.** We love and have connections to Hilton Head Island, SC but know it is hostile to STRs.** Slight bias against Florida due to anticipated stress and anxiety of watching a hurricane hit your vacation home annually, ha.

You can always reach out to me anytime and I can send you a comp report on any potential properties you are evaluating.Happy investing! 

Nearby Rural: Limited development might mean slower changes to the landscape but potentially fewer surprises.

Would one have to potentially negotiate a renter out of their lease agreement?