My strategy would then be to lease at least two of the renovated units, increasing occupancy to 90%, which could improve the chances of securing favorable terms for refinancing.I haven't pitched it to the seller yet.

If you are going to self-manage, you need a great TEAM.

If you are not already working with a realtor that is well versed in STR and knows ALL of the requirements for STR, do yourself a favor and reach out to @Josh Green.

To me the only thing that is working now is partnering with people who have their own salaried teams.  

Get a better team.

I agree that the algorithms favor most favorable nation pricing.  

If you are a rookie and investing out of state, you are going to need an all star team.

My firm is mostly remote but some of my team and I are in Henderson, NV.

Purchase price: $100,000 Sale price: $147,000 Contributors: Peter Vekselman Partner Driven and Debra Cottom teamed up to purchase a home at Bayport Dr, Lancaster, TX, on 12/10/2024, for $100,000.

Sometimes teaming up with another investor can help you scale up faster.