Most properties seem to be overpriced, often listed by pro investors trying to unload them, and have been sitting on the market for six months or longer.While I could put 50% down to make the cash flow work, that approach would likely derail my goal of acquiring four units in four years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Here’s how I approach niching down to a specific audience:Analyze Your Market DemographicsStart by researching your market to identify who is booking short-term rentals in your area.

@Elvon Bowman Thinking big is important, but it's also helpful to take a practical approach. 

Going DIY and self-managing this type of asset from another state may not be an easy task for such a building and neighborhood, it needs more attention (and probably capital).Try an unconventional approach.

Is it best to approach an architect or a land developer for what I am proposing?

Both approaches have merit.

I liked his perspective, his approach to investing and his “voice”.

The lone ranger approach works for some people, and I'm certainly not saying this is the only way or the "right way" to success, but for me and others in the community, it has been valuable and rewarding.

Focusing on smaller multifamily properties needing light rehab is a smart approach for learning the ropes.