Having good processes in place is particularly important for tenant screening, move-ins and move-outs and the handling of security deposits, but I don't know how you can have processes to guard against criminals and unfair government policies like those in place in some areas during the pandemic.

Does it make sense to invest in say a 350k property that will cost me 200-300 a month to operate even after I move out if its in a good neighborhood? 

There are more moving parts between cleanings, reviews, keeping inventory of a furnished place, bookings, new people every few days, people not understanding the difference between an airbnb and hotel etc.

Some people treat their STR like a hobby and others treat it like a business.You don’t know the numbers are based on if owners use it 3 months a year themselves, or manage it themselves and have STR knowledge or farm it out to a competent or incompetent property manager.In one area I invest in, the biggest players are all large direct booking sites with hundreds of properties so their revenue doesn’t show up on airDNA, etc.Use conservative numbers and understand your skills in terms of getting a property to be unique, marketing, listing management, etc. or the competency of the PMs you are interviewing.Good luck!

Be patient, save more, buy a smaller place, move somewhere more affordable, get other streams of income, house hack, cut your expenses. 

With all that said after closing costs, origination / underwriting fees, etc. if seem very difficult to get things moving along.

Get to know each other, and after a few deals, you just might find all the funding you can use.Keep investing and moving forward!

I moved from Florida to start investing in Columbus due to the same reason.

I got rid of all my rental properties when I moved away from my hometown.

Here in Houston most of the 2 to 4 units are around Downtown area and if you want to find anything that stands a chance at cash-flowing after you move out, you pretty much have to look in the east side of Downtown.