That said, there are still secondary and “drive-to” markets (within 2–4 hours of major metros) where a $200–300K property can perform really well.

Others, it's investing self to go to the depressed satellite market, doing some BRRR and with that create better margin and thus CF results. 

I have worked with a number of investors that have found an good new construction duplexes or even quads, just outside of major areas like Tampa. 

I get it....prices depressed, loan extensions, new interest rate caps, somewhat stable rents, fighting new build inventory concessions. 

These places were very depressed back then and now are much more attractive for buyers and tenants alike.

Long term, if you’re interested in STRs or mid-term rentals out of state, I’d definitely keep Columbus, Ohio on your radar because the fundamentals are really strong with population growth, job growth, and a lot of major companies like Intel, Amazon, Google, Honda, and Microsoft expanding here.

It is a relatively depressed city with little economic development but has great cash flow.

They don't want to let go of the depression.

It's a frozen market.We are in great depression level affordability for housing, many people were waiting to see how the Fed would operate on rates then the market on the long-end of rates.

We would have to go into a Depression for our banks to "Call" our loan positions and since we are making payments and Loan amort periods are so far out, no need to pay down further debt. 3.