The same question is analyzed every day by millions of businesses, investors, wealth managers, financial analysts, and corporate treasurers world wide.

Most of the OOS markets investors target do not have much appreciation potential, are lower end properties that will have ongoing issues and will not give the OP the opportunity to self manage his units to gain true real estate experience and understanding.

I am looking to self manage an STR management operation.

Hi, We own a couple of homes in the country and have first hand seen how difficult it is to manage the rentals remotely. 

Have you factored in start-up costs and accurate management cost? 

I know that developers in the area have rezoned these kinds of plots and built apartment/office buildings and other commercial developments.I want to bring in an investor or developer to the deal who could provide the funds and knows the ins and outs of zoning.

This is my first rental property I am managing myself. 

You won't pay anything up front, only a portion of whatever they manage to collect.

We have a property management company in San Antonio.

The Airbnb calculator estimated higher returns than in most places I've looked, as did local property managers.