Once fees and improvements are taken off too we should be maximizing that.

That being said we have the cash to pay for it outright but have been trying to learn the lending game for off market deals and to also maximize our cash on cash return. 

Then have a high savings rate by limiting spending to what you prioritize and maximizing income by focusing on what you know. 

What are the thoughts and suggestions on rehabing a property and then converting it into STR to maximize the tax losses?  

Great point @Twana Rasoul Often times the entire funds are needed to maximize your next investment.

I'd start with focusing on getting a top net, hopefully you are working with a good agent, hopefully they worked it out with you that in your current market this is a good time to list your property and maximize its potential(?) 

I'm always looking for ways to maximize a parcel instead of just flipping it.  

Could anyone provide recommendations on specific locations or strategies to maximize my chances of success in this venture?

Given your interest in wealth building through real estate, have you considered exploring out-of-state investments to potentially leverage market conditions and maximize returns?

Understanding the best seasons for these projects, considering the state's weather patterns and plant growth cycles, is crucial for maximizing the aesthetic and financial benefits of your investment.