Some agents even specialize in foreclosure properties.In some cases, banks may prefer to facilitate short sales if they believe it will result in a higher selling price than foreclosure.

It was very difficult for us to find a bank to refinance the deal and also difficult for us to procure a buyer for the condos we didn't want.The cap rates typically traded higher than a simple ownership interest. 

Gradually transition to larger, higher-end projects as you gain confidence and expertise, balancing risk and reward.

What are your guys thoughts, put a higher down payment?

We do not invest in Syndications, not good or bad, we do our own investments with higher 250% to 400% COC returns in 2 years.But we have the same considerations, when making our investments.

That said, if you can comfortably handle the additional down payment and monthly payment consequences of a higher purchase price (and the lenders agree), and you have a few different good options with the property then it could be a wise investment.By a few good options . . . you want to have some exit strategy other than STR that will work in case the something happens to make STR uncouth in your area. 

I think the only way out right now is higher wages that can absorb higher mortgages.

Right now the demand from tenants is concentrated at the higher end of the market, but I agree eventually it'll be fairly ubiquitous.

And yes, sometimes you have to pivot depending on other parts of your portfolio.The issue is that a flip is higher end finishes and amenities than a long-term rental so you could overdo the market if you have to rent it and get less of a return for the finishes.

More competition > more offers > more bidding wars driving higher prices.