Otherwise, I'll echo the mentions to Tracey and team at Worley--they know STR inside and out, so they can help with all the questions about zoning/permitting and such before you buy.

Specifically, knowing what size of property you can afford, then narrow down on Airbnb/VRBO to the similar properties and see what the properties with the highest nightly rate or the highest review/ratings look like and what amenities they offer.

I asked this specific question in this post and 2 accountants weighed in on the issue.

if you're going to be buying a major investment, it's worth it to go there in person.a lot of investors who bought houses sight unseen regretted it later... you want to see the house, be there for the inspection, meet your team, etc.why not 'invest' in that way?

However, ensure you conduct thorough research on the Indiana market, including economic drivers, rental demand, and property management options.Consult with Professionals: Given the complexities of 1031 exchanges, out-of-state investing, and retirement planning, it might be beneficial to consult with a financial advisor, tax professional, and real estate expert who can provide personalized advice based on your specific situation.Retirement Income Planning: Consider how this investment aligns with your overall retirement income plan.

In other words, what specific things am I responsible for during escrow for due diligence and processing of paperwork that a lender would typically do?

For local specifics, I would recommend starting with the Arizona Landlord Tenant Act.

But, that is relative to my markets and specific assignments.

@Larry Cersosimo,It is not possible to use your 401k as collateral for the loan, IRS specifically prohibits this. 

Title VI specifically says "§ 604.