The biggest thing to me is buying in quality areas that will increase in value over time.

You can get a refi based on the as is value after 3 months of ownership.

What this tells me is Raleigh is likely better for long-term, conservative investments due to steady value growth.

Conventional loan How did you add value to the deal?

Analyze potential deals by estimating the After Repair Value (ARV), repair costs, and total expenses. 

Ask the people in Florida who now have sky high insurance and mandatory unplanned assessments, how much value having a paid off property is. 

I'll add that you must manage yourself for at least a year (all four seasons, etc.) to have a real understanding of what you want done and how much you would value what is offered by STR PM.

paid cash from a 1031 Exchange How did you add value to the deal?

To refinance at 70% LTV (new value) you’d need a capital call of around 30-35% of the original equity raise.

This is some of the highest valued residential land in the country.