However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

You just need a good property manager.

My main concern is the interest rates being so high now as to whether what I'm hoping to achieve is really even possible. 

This shows motivation to sell and you as an agent/buyer will be the good time to jump on it to make it happen! 

A good deal will move itself.

The rate will also be high. 

nothing is done until its signed but you do risk hurting a relationship with the tenants if they are proven good tenants that have been there awhile I'd simply work on a multi year or longer term lease that has set increases in it so you don't have to worry about it for awhile.

Hey Rebecca, I'm a broker and investor up in Sacramento and manage about 100 investment properties (STR and LTR).Many of my clients are high W2 earners seeking "bonus depreciation" to offset tax liability by investing in STR.

Good luck!

@Chris MerchantThe app is good for forums but really nothing else