You get bad MTR tenants by setting your price too low and max guest count too high. 

The very high income investor typically 700k a year and up income with job or business who is busy but gets googly eyes looking at some pro-forma high return and have no clue what they are looking at.

The cost of entry is low while the cash flow is high.

Some people doing this strategy will rent STR in seasonal markets when there's high demand and high turnover and then pivot to midterm during the off season.

Buying real estate is highly emotional.

It’s very hands on for most owners (high turnover employees  and employees stealing bc of cash sales) so as long as that’s something you’re willing to do it’s likely a great option for you. 

If I was you, I would work on paying off that credit card debt, before you get into another large debt, especially if that $7k is high interest debt. 

That isn't enough equity to move the needle now and since you are on a 5.75% FHA, your payments are probably still pretty high comparatively which might cut the ability to save more.

If i could chime in and help in the search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

Hi all, My husband and I are high-income earners in a high income tax state (California).