I haven't seen any deals locally in WY that have caught my eye in the last month.

Used your HELOC to fund the down payment on a second property if the right opportunity presents, otherwise those returns wouldn’t be juicy enough for me to take on more debt for the sake of scaling if you’re buying at retail. 

Starting with the Right PropertyGiven that this is your first STR and you’re planning to manage remotely, I’d suggest focusing on a market with a strong local infrastructure for short-term rentals—like Panama City Beach or Destin.

It was off market, I paid a local bird dog $20k for helping to get it to the close and even including that $20k at market rate it met the 1% rule.Today my underwriting would not have a 1% ratio with 80% LTV as positive cash flow in class C.  

Make sure you check the local ordinances / zoning and talk to the local administrator to see if you can do what you are planning.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Hey Jon would recommend checking out FB groups if you aren't local (looks like you're based in the Bay).

We reached out to other contacts we have locally that also do rentals to get a recommendation and I am glad I did. 

Networking with Canadians who’ve invested in the U.S. and finding good local agents or property managers will also help a lot.

Property taxes will likely be reassessed based on the transfer value, so confirm local rules to anticipate potential increases.If you hold the property for at least one year, you can use the equity as collateral for a construction loan, aligning with your long-term financing plans.