What price range are you comfortable with?

Obviously if I intend to have a top performing STR in this market, my buy box will allow for a much higher max purchase price, but I wouldn't feel comfortable with shooting for the max if there aren't clear ways to beat these competing properties.

Despite the equity We also want to take advantage of tax advantages we did stay in the property for 2 years !  

Regular maintenance updates from your property manager—such as quarterly reports outlining requests, costs, and resolutions—can also help you stay informed and track spending trends over time.Building relationships with local contractors or networking with other investors in Cleveland can also be valuable.

Start running numbers on potential deals to get more comfortable, and build out your team—like a CPA, property manager, and lenders.

Personal Circumstances: Consider your comfort level with debt and risk.

And how much rehab ($ amount or $ of PP) are you comfortable with in your projects?

Sure it does. but depending on who the celebrity is/was.....That's why so many little hotels, boarding houses, vacation rentals, etc..... feature this in their advertising.And in some cases, you will not get more money, but you will get more guests.A little while ago, I went to Tombstone AZ and stayed in 'The first boarding house in Tombstone'....really cool place but kinda small and, well....old feeling.

A borrower really needs to have at least some "skin in the game" to make lenders feel comfortable.

Get out of your comfort zone.