Also, exploring alternative lenders could reveal better financing options that align with your goals, so it’s a smart step to consider before committing further with the current lender.

It’s worth exploring to see if it aligns with your investment strategy and timeline.

Ensure the sublease is explicitly permitted in a written agreement with your friend and aligns with local STR laws.

Starting locally vs. out of state:I always recommend starting locally if it aligns with your goals.

If there's a family member or friend in a similar situation, and you can both align on the initial plan (location, home type, price, usage/occupancy, etc) you can pretty easily get a co-ownership agreement in place and even a joint mortgage.The benefit here is it might open up your ability to buy a larger place in a nicer area which could lead to a faster rate of appreciation and overall better living environment. 

In some areas, purchase prices and value add opportunities align well with BRRRR, while in others the margins might be tighter.NOI plaus a big role in success, esepically with MF, so increasing rents and reducing expenses are key.

@Adam OrtizI align with Tim on this one.

Your plan to house-hack and reinvest is solid stay focused on properties that align with your financial goals, and you’ll build a successful portfolio over time.

I’d suggest running the numbers on each option to see which aligns best with your long-term goals.

The LPs job is to create your own vision of where things are going, and then finding investments that align with that.