Where does your opportunity lie? I almost exclusively travel. I prepay flights 3 months out and hotels 1-2 months out. Yes, this requires thousands of dollars up front to maximize your profits, but it's essential. For me, I have regulars all over the country. Some of these clients book an hour, 2, 3, dinners, ONs, and weekends. Comparing my Net figures from my travel to my local (Utah) income, it's clear I'm making the right choice. I have a mortgage, so your paying rent to an unused apartment is a non issue for me.
Keep in mind that airline miles, hotel points, and loyalty for both can be very valuable. My 2017 points will be flying me to London, and Paris in August only using my points balances. Delta has also upgraded my coach ticket to 1st class on 10 of my last 21 flights. Something to keep in mind. @tristanbaldwin sure fares better for upgrades, but he's a damn globetrotter!
I'd suggest finding the best deal you can for an apartment you won't share. Location is key, so keep that in mind as well. From there, build up some local clientele. As time goes on, branch out and try out traveling a bit and see if it's for you or not.