I'm in the Tampa market.  

I have purchased an off-market property from an investor who now wants to sell the rest of his portfolio.

Unsure about STR regulations in Charleston but I would advise you to search "arbitrage" on this forum and read up on the hundreds of pros and cons responses here before diving in to any market using the arbitrage model.

The same money could buy 1-2 full properties that would rent for more, depending on the market you choose. 

Send me a PM and I'll send you a couple of examples of what is on the market outside of Atlanta so you can run your numbers and see if that fits.

Hi David, you need a discounted propety, have you tried hyper focusing on off-market properties in your desired area.  

@Arun Maheshwari we work with clients to find turnkey rentals in Houston, DFW, and San Antonio in TX, but also have 8 other markets we're in across the Midwest/midsouth.

Along these lines, we send out a weekly newsletter to our list, sharing things going on in our market, as well as more macro, in the real estate market and economy.

What is the property appreciation in that market? 

Plus, multifamily properties often qualify for owner-occupied financing options with lower interest rates and down payments.As for timing, here are a few things to consider:Market Conditions: Keep an eye on local market trends.