Thanks to my W2 career I am comfortable with being house rich, cash poor for now atleast so we will see how this all shakes out 10, 20 years from now.One thing that is true is that property management fees on STRs are an absolute profit killer, and honestly it hurts my soul, but I have to remind myself of the opportunity cost of time saved by doing this, which in-turn allows me to focus on other income generating projects.

Entitlements go a long way towards lender comfort as well. 

While the interest rate might be higher, you eliminate the risk of needing to refinance or sell later, making it a safer option if your goal is to hold the property long-term without any financial uncertainty.If maximizing cash flow now is a priority and you're comfortable managing the future refinancing risk, owner financing with a balloon could be the better choice.

transforming a room into master bedroom , utilize basement space to add sqft , fixtures , open space concept ( tare down drywalls to make open space - kitchen - living room - dining room

BUT, to accelerate wealth building the investor needs to be open to strategies, tactics, investment types OUTSIDE their “comfort zone”.  

My quintessential mountain cabin will include comfortable leather furnishings, wood for the fireplace, big coffee mugs, plaid window treatments and/or bedding, extra blankets, and taxidermy hangings.  

I am preferential to medium/long term rentals so my exit strategy would not be applicable for many years.I make a comfortable living and have a surplus of money saved up but don't want to liquidate my entire savings accounts so I can get just one singular 200K property that may cash flow for a couple hundred bucks over the next few years.Am I missing something or being overly cautious?

There are so many different opinions and mine is just another one of them, so take it or leave it, the beauty of it all is you can do what you are comfortable with and what will work for you!

Hoping to buy one property by the end of this year, 2 next year and to scale up.Neighbourhood: Class B or C+ neighbourhood.Rehab: Comfortable with cosmetic and upgrades to the property but not a whole tear down gut job. 

Make sure you are comfortable with who they place in your property!