Coincidentally, I had this exact same question when renewing our local STR license as they've moved to a system (unfortunately) where the cost of the license is based on the number of bedrooms.

When rates dropped Dec23, I remember one of my lenders saying they have a ton more apps so 2024 is going to be a strong year.

While we both have strong W-2 incomes, the large number of properties I own has made conventional lenders and agents caution that securing a loan for our primary residence could be a highly complex process.I’ve consulted with some local banks I work with, and one has expressed potential interest in financing our primary home.

Thus, they are appraised as such - valued based off the sales comp approach - i.e how much have other similar single family homes sold for?

For LTRs, prioritize markets with population growth and strong job markets.Wherever you choose, work with an investor-friendly agent who knows the local market and can help you analyze deals.

@Thomas HaessigImpossible to really provide any type of in depth response based on information provided.

It's based on the purchase price and will not include any improvements, reno, or increase in value since the purchase.

However, I shudder at the popular suggestion to sell some of your investments for tax purposes, often coming from commission-based brokers and financial advisors.

I came back to Ohio and started working for a construction company, and have been there since. (2017) Currently I manage an asphalt plant for them in Columbus.I haven't done a ton of real estate investing, but have a strong understanding of construction, and project management. 

Grow steady and have a strong foundation.