For multi-family landlords..do you have a preference between 1 bed/1 bath units versus 2+ that are more family friendly...particularly in downtown areas?

We prefer to rehab our homes ourselves - keeps us from having to deal with major maintenance issues in the first few years - but the tight market has forced us to look at some rehabbed properties.

The purpose of my post was to begin scouting out poppin vacation spots (preferably in year-round travel destinations) in areas that allow short-term rentals.

Down the road I think I would want to build more of a portfolio for cash flow but I know that will have to be more focused on cash flow upside rather than preferable location

We have read a lot of blogs on the topic and understand the hypotheticals, but we want first hand account of what you prefer and why? 

@Xavier Brinkman  you need to check with the HOA first because they may have a preferred/reccommended vendor.

I've done telemarketing and sales over the phone, It's actually my preference.

@Lee Ripma  The percentages can actually be higher than the estimates above with a quality, engineering-based study, the IRS' preferred methodology.

We'd be looking for a smaller cottage, preferably not too far from a large body of water, ideally sub $200k.  

That means you have to be open to working with a realtor that might not be your preferred realtor.My last suggestion is to talk to local wholesalers.