She can use that money to get a hotel room or short term rental....or stay with family or friends.

You will likely have negative initial cash flow reducing this return, but typically the negative cash flow is short lived. 

I will be getting rid of her shortly.

We also just purchased a house in Oliver, WI that we plan to run as a short-term rental.

You may be better off trying to connect with some agents or other investors/wholesalers in your area and try and get off-market leads sent to you.

Monitor your spending habits to make sure you’re consistently putting money aside for both the short-term and long-term costs of real estate. 

And I also see many questions popping up about running a short term rental business, which to me is more of a business than an investment although it does involve an investment in real estate. 

Longer story short, I have a nicer rental that I picked up in the Dallas area.

House hacking, short/mid-term rentals, co-living, sober living, or finding ways to add value are where the best opportunities are right now. 

The Lake Tahoe market has many intricacies regarding short-term rentals, but navigating them is definitely possible.