I want to continue to invest in the property especially after getting back the inspection report which had a little more work than expected but I can roll with the ball!

I expect prices to start creeping up in Q1/Q2 once people see 2024 was as good or better than 2023 for the majority of STRs in the area.

@Guenevere F. you're going to need 20-25% down to get a mortgage.If you target $100k, that won't leave you any funds for closing cost, maintenance or emergency reserves.You could try targeting around $80k, but the $16k-$20k down payment would still not leave you with enough.If you buy under $80k, you're probably buying such a low-end property that it is unlikely to meet your performance expectations.

Running detailed cash flow projections, factoring in their management fees and expected rent increases (you can use some of the great BiggerPockets Pro tools like the calculators to do this!)

We bought couches from Lazyboy that have held up really well and I expect they will last many more years.Some Amazon stuff is good, read the reviews. 

No matter where you choose to invest, please keep in mind the following (copy & paste):--------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Sellers who resent paying 20 or 30 grand in commissions on houses they may be making 100k or more on are ridiculous, as are buyers who expect the world for nothing. 

I do not want sales agents in my market to believe I am expecting a fee each time I purchase a property and go out of my way to make it known to the broker community that they will represent me and collect their fee if they bring me a deal.

For amount, it would likely be in the $500-700k range.My expectations are to have a negative cash flow while living there, and possibly a slight negative cash flow after moving out (until interest rates lower or rents increase).

The lesson I learned is the lesson that most everyone shares: renovations will take longer than expected.