After you have that initial call with our team, drop me a message so we can connect directly to make sure you have a clear vision on what the next steps are to accomplish your goals.Regardless of how you ultimately decide to get started in REI, the first investment property is so essential to get under your belt mentally & emotionally. 

Plus they have a whole suite of features that are essential for landlords. 

What resources or tools are essential for conducting thorough market research?

If the property appraises at $500K, 25% higher than purchase price, either because you bought it for less or due to market appreciation, then you essentially get all your $100K back.  

Essentially, should we take this step-by-step approach rather than jumping straight into being landlords?

Essentially - would not recommend at all.  

Buying a multifamily property is essentially buying a business—income minus expenses.

From your post you are seeking to essentially knock down the house and build brand new.

Essentially paying down my principle puts more equity in my pocket for when I want to tap into this resource.

It's also essential to understand local regulations regarding short-term rentals, as they can be strict.