Eric Foss #RustBelt Bottom line is that you'll have to go somewhere to buy where the buying pool is only investors and an incredibly limited pool of investors with that appetite.

Some people came alongside me and gave me some good books that whetted my appetite for real estate.

They are usually in areas with a higher concentration of investment properties and investors tend to suppress the pricing market (go figure... everyone wants them cheap.)

Right now my business has an appetite for distressed properties and potential fix/flip rehabs.  

Many local banks that I deal with did not have the appetite for a loan in hospitality.  

Higher interest rates and a looming recession are putting a damper on deal appetite which will likely last through the first half of the next year.

Will the added units make the building call for fire escapes, and fire suppression equipment, or ADA upgrades, or an elevator, or upgrade the whole place to 2023 Electrical code or etc...Is there enough electrical amperage at the service entrance for the added units or will you need another drop or a transformer or something like that.Will construction noise drive other renters to not renew (???)

Hey All, I'm looking to network a bit with property managers with contacts in the STR space to learn more about their business goals and appetite for collaboration. 

It's all contextual to your market, your investment appetite, and your business plan.Here are a few keys things to consider:Your Market: As @Mack Benson pointed out, up here in St Paul/MPLS, most of our small multifamilies (2-5 units) were built nearly a century ago.

As for building out your current garage, or completely tearing it down and building a two story rental unit - this decision has to do with your appetite for risk and how much you are willing to invest in the property.