I would like to add since the advent of regulation a+ you are starting to see an increase in alternative investment / real estate funds that allow non accredited investors and minimums as low as $100.

I find in low rent markets (Midwest) or high HOA markets (Florida condos) that the 50% rule is aggressive  and expenses are likely to exceed 50%. 

The unit was wrecked but I was sold a rehab project that would be much more expensive so that the unit could be converted into a bigger living space; the idea being that we could get more rent out of it (close to $1200 vs. $800/mo).The rehab was supposed to take ~ 3mo.

Keep your cost of living low so you can reinvest it all into acquisitions, until you hit your number.  

They're usually the most expensive.

Any thoughts on how far to get outside of "Attraction" areas and still get low STR vacancy rates in this area?

You can find this at either low-end antique stores, or high end thrift stores.

I'd expect rates in the low to mid-teens depending on LTV and credit.

I have been working on a post about insurance and it is very complicated.Proper is very expensive but it is very comprehensive.

The distance from town is the main constraint in delivery.So I will say that Lowe's owns their own delivery trucks and staff.