This is exactly my understanding.

I thought it's kinda fitting although not exactly.

Regarding the property condition, thats on the inspection report and hopefully you went through it with a fine tooth comb.

The STR did have some losses that could be offsetting to W2 income if several conditions were met.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

I will definitely talk to a lender but I see exactly what you mean.

However, interest rate risk is a key factor—if rates rise or lending conditions tighten, refinancing may not be as favorable.

Some folks said exactly what you said.

I would encourage you to figure out exactly what is needed to get your first deal and set a goal of when you wish to purchase it by.

For multifamily properties, this is often around 40-50%, but it can vary depending on the property's condition, location, and age.- Analyze Comparable Properties: If you’re working in a specific market, reach out to other landlords or property managers with similar assets.