I can collect rent online, screen my own tenants(without paper and checks), Send communications easily, and I can access everything from my phone.

If they are professional, they can explain this quickly and easily.

You could easily lose $50-$100k GAMBLING on a future price drop.

- can I easily change between the two?

My question is if I’m going that far out and don’t have a car to easily get to the property is it better to do an out of state deal that is in a more ideal location since it sounds like I would be doing similar work.  

As was mentioned, you can always easily go from STR > LTR but not the reverse....And I also thought about the LTR tenant downstairs at the mercy of the STR partiers upstairs... so if you go STR/LTR, I would definitely do the bottom as the STR/Just my .02......

You can easily cash flow about $5000/ month or more if you find the right property OOS.

Where I live only SFH pay for water, apartments do not but my units are nice so I can easily charge an extra $25 to offset their water usage.

I am new and this question may be easily answered by many.

I could easily make this property worth a lot more then the purchase price within a year by raising the rents and improving the property.