My mom has a $2mm house with a $150k basis and lives in 1 room with no heat and eats rice. 

@Jared Rice I'm an investor in Washington DC and Shenandoah Valley.

Hi @Jared Rice all great questions!

Quote from @Marc Rice: Quote from @Hayley Beckman: Long distance real estate investing opens up a world of possibilities by allowing investors to tap into markets far beyond their local reach.

Quote from @Sam Shikiar: @Marc Rice yea I knew that was the case with basements but hadn't heard of this with bi-level.

Also with @Marc Rice here.

Townhomes and condos in areas like Spring Branch, Heights, and Rice Military can see high appreciation rates.

Must have a decent backyard and/or rooftop terrace.* Property in a flexible market to switch the rental from an STR to LTR (if STR doesn’t work out).Questions:* What are the prospective neighborhoods or areas within and around Houston for STR investments?

There are houses that can be lived in and fixed up, or turned into multi-unit spaces (such as terraced houses with converted 'stables' at the back) for living in and earning income at the same time.

Thanks @Nadeem Alamgir & @Marc Rice for your knowledge, much appreciated.