Ultimately, Lawton could be appealing to cash-flow-focused investors comfortable with high-risk, high-reward environments and looking to leverage a reliable rental base tied to Fort Sill.

Buying multifamily is not about what the seller did but understanding what you can do and how much it will cost you do to it, then determining if the financial reward is worth the effort to undertake it.  

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I remember when I was comparing tools. 

Compare the STR PMC managed numbers to those for LTR PMC managed.- The numbers may have an impact on your decision.You may also want to read your condo's Home Owners Association Master Deed & Bylaws to make sure there are no restrictions on any type of rentals. - Many HOAs have LTR restrictions and some now have implemented STR restrictions.Also, hopefully you've updated the home insurance policy of your current STR rental from a homeowner's policy to a landlord policy.

Let's compare two scenarios I priced out, Borrower Paid Broker CompensationPurchase Price: $500,000SFR 30 Year Fixed Credit 740 DSCR over 1.00 Meets DTI Requirement 1.

It's been my experience that the additional reward doesn't outweigh the additional work.

Don't you think with the HOA there, it's still easier to manage on your own compared to single-family?

Get the inspection report and check comparable properties quickly for condition and then go to the seller with your proposed reductions and be able to point out condition-comparable properties in keeping with your proposed price reduction.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.