Down payment amount varies and more you put down the highre you will be in the queue of applicants, also down payment varies per your credit...Dodd Frank IS in play!!

The mega site in Richmond, as well as Mt Vernon, will really change the landscape in these areas as they did in E-town when the battery plant came in play. 

Comps to me no longer play the only role because of rates, seasonality, etc., it definitely fights the arguments on re-fis with the appraiser but I'm noticing there's just a liquidity issue that is skewing things.I try to essentially start at the floor and work my way up on the ARV as opposed to seeing the highs and working it down.

You need to remember that, hopefully, this is a long-term play for you, so work with a trusted STR designer (I have great recommendations), and spend the money upfront so you can be the most successful in your area.

I have more than 20k to play with, just looking for ideas for best use. 

He’s built an incredible network of people who each play different roles to streamline the deal process.

I can certainly see those scenarios playing out as they have many times in my experience. 

As others have alluded to, buying larger units or a house near the beach is a better play. 

Being out of state has you playing from behind if something were to happen.

Yea this is a long-term personal play more than a strict STR deal.