Do it very intentionally, not just for the sake of scaling up, but to get better quality or easier to manage properties that will replace lower quality or harder properties. 

Keep on being a shining example of quality, Chris.Continued success!

Short term (12 months), low loan to value with borrowers who have strong credit and significant assets.

HUD loans will take drastically longer (I've never used one personally), but there can be benefits to using these loans if you're a long-term owner.The interest rates in your Key Considerations seem very low for agency loans and they're definitely low for bridge loans. 

You capture the paydown, appreciation, and low payment.

@Tom Dieringer After purchasing my first property in 2024, I acquired most of my short-term rental (STR) knowledge from The Short Term Shop, which included maintaining respectful communication with guests, keeping calendar availability up-to-date, and ensuring high-quality listings.When I initially began May of 2024, I opted to list my property exclusively on a single Online Travel Agency (OTA) - Vrbo.

Biggest lesson would be to have refinanced when interest rates were low and locked in a fixed rate for longer terms without a balloon payment!

I've also assumed VA loans where little cash was used (seller had low/no equity).

However, looks like there is a harsh line as far as what locals can afford and if you go over that, vacancy is high.Watertown, NY- I’ve seen many great multi-family properties in the low to mid 100s.

They have lost many employees and the level of service and quality has been dismal.