Owner occupied loans have allowed us to purchase properties in markets with heavy appreciation, and potential for huge rent increases.

The increasing barrier to entry results in fewer new STR's coming available for sale, but also fewer options for guests to rent. 

Quote from @Jonathan Blanco: Is it worth seeking lenders with $0 lender fees (such as origination, processing and underwriting fees) or do they just get that money by increasing rates and charging higher points?

-- We focus on verifying 2-year work history and verifying rent payments with last 2 landlords (unless in same property for 5+ years).3) MoveIn Specials: be careful with offering "free rent" as will just attract tenants with no cash.-- Try free TV or something else worth 25-50% of one month of rent.-- Or, what we do is offer the free rent AFTER & ONLY if they pay their first 3 months of rent on time to earn it.4) Lower the rent 5% every 2-4 weeks until activity picks up.5) Understand this is the worst time of year to find tenants.-- Starts picking back up end of February when this tenant pool starts getting their income tax refunds and aren't broke anymore.6) Section 8: where is the property being advertised?

Staging your house well can help you attract more attention from buyers, which ultimately helps it sell faster and maybe for a higher price than an unstaged home (see visual):What Are My Staging Options?

These areas are super attractive for investors.It's not hard to see why. 

However, investing locally has become increasingly unfeasible and unrealistic due to the high costs.

The question that you need to ask is what is the 10% increase that is allowed based on? 

Similarly, if you are you a medical professional with strong connections at the local hospital, then target properties (and their owners) that would attract medical travelers.

These markets are attractive because of their diverse, resilient economies, lower priced homes, and stable home price appreciation.