If you buy because you want to own there as opposed to being a pure investor, you can care less about the state of the market and take advantage of a bargain if you find any.Or maybe, you prefer to wait that the tourism and market fully recover and pay top dollar?

Airbnb s security deposit is pure BS.

You would definitely want to consult an attorney or CPA (or both) in the state where the properties are located for a better understanding but from a purely tax perspective, any state that imposes income taxes most likely would require you to report the income from a property in the state they operate in on an accompanying tax return. 

This would be purely investment and therefore I need to do a conventional loan and downpayment.

The reason any accountant would love you for having separate accounts for properties is because of the extra work they can bill you for, pure and simple.

This way they don't call me to change a light blub or put a battery in a smoke detector.Good Investing...

They do quarterly market surveys and the info in those reports are pure gold.

Honda has invested $3.5 Billion in Fayette County for a plant that will make batteries for electric vehicles. https://www.dispatch.com/story... buying even more land! 

As well as Forsee Power which is a French-based EV battery company. 

I help a lot of house hackers and this is a common question, usually centered around the absolute best ROI and going purely off numbers.My question back to you is where do YOU want to live?