Mountains, Lake Front, River Front, Ocean Front, close to major attractions such as Disney.Pigeon Forge, Ocean front in Carolinas and Florida

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

I view deductions as far more attractive as they are all taken in one year vs. over time and because eventually depreciation will be recaptured (unless you 1031 forever)...so it's really not a tax break. 

Apartment buildings are a more advanced (and often higher-stakes) strategy than single fam/small multi-fam, so it's a good idea to get some REI experience before jumping into apartments.Not only will the experience of operating a smaller property be absolutely critical in helping you eventually manage a larger property, but that experience will also make you more attractive to potential investors or partners--if you decide to go down that road....and, as others have mentioned, study up on all the resources (podcasts, articles, youtube videos, etc.) related to whatever investing strategy you're pursuing, and start attending your local REIA meetings.

Hit that and they're profitable, lower than that, they're loosing money.There are different philosophies on this though.....some people want it full every night.....some people would like quality over quantity, or minimum stays to reduce turnover or to attract a different kind of guest.

If you did it yearly, do you find it much harder to attract tenants at a condo vs a house?

We have worked very hard to get our personal finances attractive to lenders and we are ready for our money to work as hard as we do. 

It’s the only way to achieve the returns that attract capital.The only reason 4% cap rates make any sense at all is because in some markets rents are climbing 20% or more in a year.  

It was a creative deal, where the seller was carrying the note for a number of years, some things in his name, some in mine and through the excitement of having a breathing being willing to help me get my first deal I just whiffed.

It depends on where in Bethlehem your property is located as far as the quality of tenant you will attract.