Yes, I have been all over Airdna and Zillow for a while now and it seems as if the ADR just isn't high enough to justify the cost of the homes if I wanted to buy a house and set it up as a STR.

. $2,500-$2,700 in rent but have a $1,900 mortgage (including current property taxes) plus $100 for insurance, plus a 10% chance of no one renting and another 10% set aside for repairs.After all that I'm in a range of breaking even or making $200 a month with this as a rental.

Usually, 3-5 people is the sweet spot for a house hack, and 5 people is about the limit for a single fam house (more than 5 people usually creates too much noise and mess in a single fam house hack).

Set a goal to analyze a few deals a day and establish your buy criteria.

I can tell you what people here have done in Bay Area to set themselves up for retirement.

@Yang ZengYour situation presents a common dilemma for real estate investors: deciding between investing locally where you might be more familiar with the market but face high property prices, or exploring out-of-state opportunities where properties may be more affordable but come with their own set of challenges.Here are some considerations:Risk Tolerance: Take into account your degree of comfort and risk tolerance while managing properties remotely.Objectives: Specify your investing objectives, including cash flow, appreciation, or a combination of the two.Market study: To fully grasp the development potential, employment opportunities, and rental demand of prospective out-of-state markets, do in-depth market study.Hybrid Strategy: Another option is to choose a hybrid strategy, where you invest in a combination of local properties for stability and simpler management, and you set aside some of your portfolio for out-of-state properties for diversity.Before making a decision, it's essential to consult with real estate professionals, conduct in-depth market research, and possibly network with local investors in the markets you're interested in.Remember, there's no one-size-fits-all answer, and the best strategy depends on your financial goals, risk tolerance, and personal preferences.

Developing the skill set to source and acquire deals off-market can take years. 

I would set up hookups for water, sewer and electric according to code and write a lease for it that makes sense.

There are different ways of doing it, but I prefer to set it aside in a different account.

Sounds more like a question for a CPA group where you can share new ideas but most people here have limited experience even in real estate.