A person can cash-flow in ANY market, ANY state, ANY MSA....

I file under an S corp with about 23 doors and a flip or two a year with only meeting with my CPA once a year. 

You want to be the reference (in terms of knowledge)- Understand how to do the financial modeling of this type of asset or if you outsource, make sure that person is available when you pitch. 

That will be your main sources of funds...and typically you and your friends will need to invest $50,000-$100,000 per person. 

This is just my personal opinion and how I would deploy your capital in RE.

The key to this strategy is the person you're selling to has to put up a significant downpayment, so you can start the process of finding your next investment

@Jay DeckerThe great thing is that you live within Washington State which does not have a state income tax.You may be required to file a non-resident return with Ohio and Iowa.

I will appreciate all the input I can get especially a reasonable person to do the logistics including zoning etc.

@Samuel Olivas From personal experience you can't have your cake and eat it too. 

If you do not have them removed and they get a refund from Airbnb, file charges against them for defrauding an innkeeper.