Leverage your W-2 income for better loan terms, explore private/hard money for off-market deals, and network with investors to expand your deal flow.Good luck!

You have come to a great place to learn how to build wealth and income with real estate.

My thinking immediately turned to researching local rental costs per square foot to determine income potential with triple the current square footage.

Quote from @David Cherkowsky: Quote from @Sasha Mohammed: Hi David,There are lenders that will allow you to purchase via a DSCR loan using STR income to qualify.

@Kyle LipkoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.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 property in Class D area to Class A standards, what quality of tenant will you get?

This could help decide if the income is enough.  

I think initially it makes sense to find properties that already have finished basements, in-law suites, etc. as converting those spaces to ADUs will be inexpensive and create a significant amount of rental income ($2,000/month+ in most areas close to the city).

Reinvest profits, stay patient, and keep building toward replacing your income.

And you'll have a solid W-2 income to help you qualify for loans. 

Things that could get in the way im putting out there now to make sure no surprises after someone does the work to get me quotes- New York State - Appraisal will barely be past 100k if that- 98% of my income comes from my rental portfolio (thats a new fun rule (to me) I just learned about)- Prefer something without a ton of fees and such.