Negotiations focused on securing the property at a favorable price, enabling us to achieve a profitable margin in a highly competitive market without requiring additional renovations.

Getting the system/team in place will be key once you start to scale with STR in your market.

Are there team members (RE agents, wholesalers, lenders, PMs, contractors, etc) you'd recommend?

Those sounds like great rentals and vacancy rates have been decent - our management team only has a handful of vacanies out of the 300+ we oversee, thankful for that.

It's really all about putting together your team - realtor,  title company, other adivisors, QI.

Finally, start small, analyze deals, and build a team to guide you as you gain experience.

More cash and more favorable LTV%.  

I definitely plan on building a team in the market we select. 

Bonus Tip: If this quadruplex is out of state, I’d highly recommend building a reliable local team (cleaners, handymen, etc.) and maybe consider hiring a co-host or VA to help with day-to-day tasks, especially if you scale up. 

Our team has noticed an uptick in buyer demand paired with a continued decrease in housing inventory.