Since it's not that far from downtown and not bad drive to Lake Erie.   

I put together the purchase of Borax Lake property for these guys and worked on a golf course and development around the lake. 

Think lake-houses and cabins.

I am a beginner investor myself here in Utah, working towards my first deal, which will be a small multi family property in Salt Lake County. 

We use the 2" Big One memory foam toppers on all our beds at our lake house and cover the whole kit-n-kaboodle with a Serta Black mattress cover.The 1" is also on sale if you don't want to go quite as thick. $10.44https://www.walmart.com/ip/seort/55082641If you keep an eye on the Walmart site, the King might come back in stock for $15.00 - https://www.walmart.com/ip/seort/55082677 Thanks Mike.A topper can make a huge difference.

I have a 3/2.5 in Old Lake Highlands near White Rock Lake (~1 mile) that my family and I are living in as a primary residence, but I have been thinking about house hacking into another house and then doing a MTR on this 3/2.5.

For me personally, I moved to Reno, NV to still be close by, but also be right next to Lake Tahoe, better landlord laws, property taxes do NOT reassess on the sale, etc. 

I am in the Carolinas and would highly recommend that area.We have ocean, Lake and River front areas as well as poplular cities and as you mentioned, relatively low cost of living.

As you look for your first investment, consider starting with a property type that aligns with your skill set, like a value-add single-family or small multifamily project in your area.The Lake of the Ozarks has unique opportunities, especially if you focus on demand patterns between seasonal and year-round renters.

@Jaxon Johnson,Huntsville’s an interesting place for house hacking, and the two of you are in an especially good place given you don’t need to be tied anywhere geographically.As for where to invest in Huntsville, areas along the “path of progress,” so from Huntsville proper to Wheeler Lake, could be worth checking out.If the two of you are open to living in a smaller town close to Huntsville but outside the city proper, areas like New Hope, Arab, Hartselle, Decatur, and Athens could also be worth looking into.