Hi folks - first time newbie investor here. I'm interested in getting started in short term rentals, and have been researching the space over the last few months. Before I get into questions for the forum, just some context on what I have to invest and the ideal return profile I'm looking for:

• $120k in cash to spend, including closing costs and set up costs (furnishings, simple upgrades, etc.). Property I can afford is likely in the $450k range.
• Targeting NOI of at least $25k per year and 20% cash on cash return

I've narrowed my list down to a handful of markets around the US that I am investigating further. One in particular is the northern section of the Oregon coast, specifically Seaside, Rockaway Beach, and Florence / Heceta Beach. It seems like these markets have established STR friendly regulation and are stable vacation destinations that were getting an increasing number of visitors every year, even prior to COVID.

Couple questions for those that are familiar with these regions:

1. What are some pros and cons of STRs in these markets?

2. Are the returns I've laid  actually achievable here? (and not just this past year where domestic travel has gone through the roof)

3. I would be an out of state investor - how challenging is to to remotely manage a rental here? From browsing Airbnb and VRBO, it looks like a majority of properties are managed by either Vacasa or Evolve, but of course their fees are in excess of 20%

Any thoughts or comments would be appreciated. Would also love to connect with any investors or realtors that know this area well. Thanks!