This is a good opportunity in a strong market, and with your excellent credit and HELOC funds, you’re in a great position to make this project happen.

Are there any particular markets or investment strategies you’re leaning toward?

Purchase price: $275,000 Cash invested: $129,000 20-unit hotel, was abandoned and had sat on the market for 3 years.

There are a lot of affordable properties in Knoxville, but the growth isn't terribly vibrant and the deman isn't what you'd expect for a city of that size and that close to the Smokies - you're mostly looking at college rentals for the meat of the move season, and the SF market, while it exists, doesn't really compare to Chattanooga. 

The Japanese market is different in that it is a high yield cash flow market, non speculative investing.

I understand they may do up to 30% actual real estate, mfh mainly.That is a higher risk IMO, especially in this market. 

Investing out of state in the KCMO area sounds like a smart move; it’s such an interesting market with plenty of potential.

As a GA native and investor, I love Savannah, but I haven't invested there yet, partially because y'all are so dominant in the market :) I would caution, however, that there is "no way to do background checks".

Marketing Yourself Locally – Focus on word of mouth and local networking.

The secret to dominating the world of off-market acquisitions isn’t about delivering a slick pitch or being pushy—it’s about becoming the trusted, go-to problem solver that sellers want to work with.