I would buy in a market where you will see the best appreciation because you won't be able to force appreciation like you can with value-add opportunities. 

Anyways, I appreciate any insight/guidance you guys can offer.  

buy in a short term rental approved condo building in the urban core, pretty low risk. properties are appreciating at record levels, keep the price under 500k. buy a studio or 1 bed. we are doing this style development and it accounts for over 60% of condo development in miami dade. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I appreciate any help you can provide.Chris

I appreciate your input.

@Stuart Udis Thanks for replying so promptly, I appreciate the advice you've given.

I really appreciate having a little bit of ammunition, and encouragement here.

Any advice would be very Much appreciated. 

Long-Term: Appreciation, loan amortization, potential tax benefits, and housing expense savings.I'd say the unexpected benefits of learning property management, deal finding, project management, renovations, and DIY-ing were more impactful than I initially thought.