You CANNOT depreciate the house if it’s for personal use, ONLY if it’s a rental use.So I can still depreciate the house, write off items I buy to furnish the home, maintain the home, and any costs associated with running it as an AirBnB when I am not using it for personal use?  

i was just reading over it and looks like you cant rent it shorter than 7 days and looks as thought it needs to be zoned b1 and up but anyway in my opinion str wont make any money in the area the occupancy rates just aren't there to cover the costs. i mean if someone what's to do it by all means have at it but im out.fox lake is limited to i believe 60 rentals at any given time but again if you look at the Calanders of the existing listings they're just not booked very much  

I know it sounds weird but Sellers want no knowledge and Buyers want all the knowledge.

For example: I sell a $200,000 condo with no mortgage debt on it.

At least that’s what it costs me to run my big window AC unit.

Houston, TX NO CASH FLOW3.

@James R.BOI takes five minutes to complete on fincen siteAbsolutely no need to pay someone to do it

Not sure about the second rule you mentioned.1%, and 35% operational cost are the two rules you are using. 

Also, when landlords can not sell their home because no one can afford 7% interest with 3% interest rate prices, something has to happen. 

To answer your question, no, don't invest out of market until you have some experience.