@Shaylynn O'LearyI think I may have posted this in response to you in another thread a while back, but here goes again.If you pick a random "low cost" market like the ones you named, don't know anyone there, don't set up a network, buy random properties, and turn them over to people you've never met to manage, you will most likely lose money. 

Industrial vacancy rates for your size building are ridiculously low. 

The downpayment is good but the interest is to low.

Or we gradually perform high-quality updates for a live-in flip, then roll the equity into a new home.Regarding rental income, we aim to boost income, lower our effective tax rate by generating more low tax-drag income with rental income (since there’s not much we can do to lower out W2 tax bills) and have retirement cash flow.To compare the financial impact over 10-20 years, we want to analyze renting versus flipping.

Sellers Get More MoneyWith wholesaling, sellers often need to take a low cash offer.

Let them know that you could purchase at XXXk, you would need a low interest rate for year 1 and 2, interest only.

Other than comps for 3-unit properties (which are typically not furnished and operating as STRs), how would most seasoned STR investors look at valuing the property?

I’m looking for ideas of how to do this, and any advice on how to protect my primary property along with paying low taxes. 

The best is to work with a seasoned banker who knows the system well and knows which questions to ask investors and which not to ask investors.

Quote from @Jonathan Klemm: Happy to share @Bonnie Low!