I would also like to add Daly City and the sunset district to your list.

List is not exhaustive but a very good one.

There are also very few houses on the market and the ones that get listed usually move pretty quick.

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I've been interested in out-of-state real estate investing for a couple of months, and Oklahoma City, OK has been on my list.

Just keep working on your listing 

We have a lakehouse that we're considering listing as an STR part time.

Interestingly, they've recently negotiated a re-purchase price with us IF we bring new funding to the table.The rehab is required for several reasons: (a) correct the damage the bank has allowed to happen to the property improvements these past few years (known problems include completely destroyed pool makeover; wild animals living inside the residence; flooring missing in sections of the rec center building; destruction of the decorative main entry gate mechanism; lots of dead landscaping; as well as latent defects not known to us such as working plumbing, HVAC & water services) AND (b) expansion & upgrading of the accommodations (converting the private residence to a 2-story lodge with the restaurant/bar, reception/check-in, movie room, public restrooms, gym/sauna/steam room/massage therapy room; enlarged pool & deck area with climate-controlled cover for year round use; conversion of former restaurant/bar building to a general store selling venue collectibles & wearables, selected pre-packaged foods, sundries, RV & camping items, bagged ice & a propane refill station; construction of a free-standing event center; free-standing cabins; enlarged & upgraded RV park with its own small restroom/coin-op laundry building; outdoor activity areas; new landscaping & fencing; new parking area & entry drives (personal car & RVs).We know our target audience having created and operated the former version of this resort for almost years creating an initial membership base numbering about 1,100. 

Effectively, you would claim depreciation for a portion of the year depending on how you set things up initially during the year you purchased the property.

Thank you Rahul,Delayed financing requires two closings, but it gives you the bargaining leverage of cash purchases while recovering a bulk of your initial capital and providing funding for the rehab.