But the market shares of those alternative choices matter.

I have no choice but to go on but its just so discouraging doing all this alone.  

- Are there specific market conditions or trends in 2024 in Charlotte or Louisville that might influence your choice?

Both seem to be great choices :) 

I know of a few good choices if you are looking that direction.

Hi Robin,I do a fair bit of business as a lender in South Carolina; a lot of short-term rental investors tend to focus on the Charleston & Myrtle Beach areas, but if you are looking for properties that are still reasonably priced and don't mind some renovations, Columbia can be a great choice 

entp.hud.govYou also want to make sure you run the math to ensure it passes the "Self Sufficiency" test where the unit rents must support the PITI by using the 75% and vacancy calculation. 

In other words, sufficient capital for the cash purchase of a property (plus rehab) and eventually refinancing the completed project to a long term loan.

Now, if you have used your entitlement to obtain a VA loan and it is a small amount, I believe you can obtain another loan if you have sufficient entitlements remianing and the original loan was assumed.

Consult a structural engineer for other material choices.