You may choose to avoid the entire west coast due to rent control, heavy regulation, or Tenant-friendly laws.Look for cities with projected growth, affordable housing, and the kind of tenants you want.

However, we still have a declining economy and people may tighten their purse strings if things don't turn around soon.On top of that, our government may choose to "fix" problems with more rent regulations.You can make money in any market.

If your investment strategy is to house hack, the most suitable financing means will be through a conventional lender or government-backed loan product (FHA).

Agree with the others to look at the regulations and the numbers for both scenarios. 

Keep milking it as long as you stay of the radar with the airbnb vs rules regulations of the county and condo association.

I can't imagine a bank or even the government will give a $50K loan to a new LLC. 

Each designated LLC has its own governing documents establishing its members, managers, and membership interests.

I see a lot of local inflation-indexed payrolls (government) (going up), and no FED pivot (yet) (going down).

If I can get either a ready to build lot or small place with land at a good price, with fairly low regulation zoning requirements, there should be a healthy profit margin at 3-4 STRs...

That's awesome, a 24-unit could be a game changer for passive income.I can send you a due diligence checklist our team put together for multifamily and that might be really helpful for you (if anyone else is interested, I am happy to share with anyone who would like to see it).Here are good documents to gather / steps to complete during the due diligence process:- Appraisals- As-built construction documents (see what the build quality is and set up for electrical, HVAC, etc)- Easements- Encumbrances- Environmental reports and related correspondence- Government notices- Leases (with rent roll to verify)- Photographs - insist on looking at EVERY unit, otherwise you'll only see the ones the seller wants you to see- Previous site plans- Property surveys- Recent tax bills (can call the county to ask for an estimate on tax bills after sale)- Soil reports- Title reports, commitments, and policies- Zoning documents- Any other legal documents of significance that the seller has