The BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) could also be a great strategy to recycle your capital.To find deals, try direct mail campaigns targeting absentee owners or distressed properties, or go driving for dollars in neighborhoods with strong rental potential.

Any tips on areas to avoid and/or target?

I always a little under my target amount ( a month interest and half the cost of the attorney) so they can negotiate. 

@Scott VaethIf you live in part of the home and rent out rooms, you might be able to keep the lower 4% owner-occupied rate.Instead of a long-term rental that barely covers half the mortgage, could you do a rent-by-the-room model or target traveling professionals to increase cash flow?

Do you have a specific revenue target in mind for hiring, or are you basing it more on workload?  

So it probably makes sense to send targeted letters to people who you're most interested in connecting with.Solid advice, thank you.

Running the numbers on paper is one thing, but actually securing bookings at your target rate is another.Sounds like you’ve got a good handle on your market and what your guests are looking for, which is key.

I like your suggestion of targeting a property with existing tenants and minimal work needed so I can ease into the process while building my network of contractors. 

You can target certain niches.

Do you have a price range you're targeting?