I own 2 STR units in condotel buildings in Waikiki, both are doing very well.

And I an experienced 2-4 unit investor here as well, and have self managed for the most part.  

Your new place should turn into your new business location as well. 

I have seen some with keurig and some with just a regular drip coffee as well. 

Even better, I might be able to snag it well under market value since it's an estate sale that's been sitting on the market for nearly 200 days.Here’s the challenge: while I could afford to purchase the property under market value, I’d be stretching my budget thin to cover the mortgage during the period I’d be remodeling the basement to make it rentable.

@Hunter Duplantis what @Gino Barbaro said is exactly what I was going to suggest.When you have vacancy is the time to experiment and apply your original thesis.I’m not trying to play Monday quarterback here but, you should be highly confident in where the rents should be well in advance of having a vacancy.That being said, after confirming competition rents on websites (I’d also recommend Craigslist and Facebook marketplace), you should be in alignment there.  

The company is as well.

@Patrick Osterling similarly I come from a sales background as well.

One year after I used that property to pull a HELOC and this year used that money to purchase an off market 4 family property in Clinton for well under market value, which I just recently finished all of the repairs and upgrades on.

I was interested in this type of deal because I was living in the area for another year and needed to build equity as well as dip my feet into the real estate market.