To ensure you’re not overpaying, compare these quotes to typical rates in the area using resources like HomeAdvisor or Thumbtack, or by reaching out to local contractors for ballpark estimates.

You can then rent at market rate but have to register it with the town annually and abide by their annual inflation rules.

Net post-mortgage: $91,586/year.

.- in this higher rate market, i find BRRRRs to be challenging because after a high LTV refinance the units have negative cash flow.  

I love Mt Ranier, but the property tax rate is crazy.

I'm feeling most drawn to a buy and hold rental investing strategy and like the idea of the BRRRR strategy in tandem with VA loans, basically refinancing VA loan backed mortgages to conventional loans once there is 20% equity in the home.

They have had 100% occupancy at market rates and currently bring in around $2,000 per month in cash flow.

That will be a determining factor for where it makes sense for you to purchase.Regarding waiting - bear in mind a lot of people were predicting rates in 2024 would be in 5% range or low 6s, which didn't turn out to be the case.

Although I will probably pay a slightly higher interest rate.

Having a mortgage and your normal STR insurance is already 2 levels of protection.