The best I've seen for STRs is 80LTV on purchase and 75LTV on cash outs. 

For newbies, I recommend starting with a turnkey cash flow rental.

Self managed HOAs are usually undercapitalized so you want to take a thorough review of the condition of the community to make sure there isn’t deferred maintenance because you might get hit with a special assessment if the board isn’t setting aside cash for those capital improvements.At face value, taking into consideration my typical financial objectives, I wouldn’t do this deal unless it was a much lower price.

GC in my area cost 10% of the total and I would say that is worth it for what they provide, but if you have the knowledge and willingness to be on the phone with subs (and spend a lot of time on site) you could save that by DIYing it.

Cash flow a must, appreciation a plus.

I purchased three out of state "cash flow" rentals with Evernest.

I am in it and feel it is worth it as they have groups all over the country who, with experience transaction coordinators and funding groups, and even closers to help you along the way.

Granted there is a cost in hiring an agent, Having someone analyze each deal with localized knowledge is worth its weight in gold.

Some markets are better for cash flow.

However, it could also be a 4 plex worth $800K.