Sadly, there is no precise “right time” to begin.

You can find your local PHA by visiting the **HUD website** or by searching for "Michigan PHA" to locate your specific agency

Homes are sitting longer but some properties get multiple offers in good locations.

And could start making a small amount of cashflow and start gaining appreciation with an LTR.Or do we continue to save up and get a better property in a good location with the amenities we would like to offer with an STR?

Make sure the property is in a good location and cashflow positive after your PITI.

--------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

But decided where you would like to visit during the year would be helpful in narrowing down a location. 

I have owned this property for almost 10 years and originally purchased with cash and of course work has been done over the years. ceramic tile in bath and kitchen, laminate wood in the rest of the rooms, cabinets and countertops, sinks in bath and kitchen, new tubs and toilet etc.. located in st louis its a 2/1 but will rehab to make 3/2 so we will be adding value to the property and will be using the rest for capital for the company as i have other deals I am looking at...

@Yixiong Pan Chantham county is where Savannah locates.

All these metrics are different within the US so, as you can imagine, they're different between different countries and within a given country, depending on location.