With rapid appreciation and cash-out refinancing, you will only need a small portion of that amount.Low risk of natural disasters.

Unless you plan on scaling rapidly and just want to set things up a certain way starting out.

Seems like a property that isn't going to appreciate rapidly so cashflow will be vital to its investment potential.

How much weight do you give to the cash flow benefit of cheap debt when the property is priced above market?

A lot of investors put a lot of weight into their LLC but to be frank, it doesn't really matter until after you've gotten under contract.3.

STR's can be very profitable in certain areas of the state, and rental demand is growing rapidly.

But it's rapid price growth and sales activity could indicate a more volatile market, with the potential for corrections if demand slows as affordability becomes an issue.

@Philip Beckwith,  Since this last post is only 5 months old and you are in Grand Rapids like me, have you had any follow up/results / success since this last post reply? 

Rents in the surrounding towns are raising rapidly.

I invest in Boise, ID and do quite a few BRRRRs, LTRs and STRs- varying degrees of success depending on how much equity we can force and the type of back end financing we can find, but the tax benefits are great and it's a rapidly growing market and Idaho is probably the most landlord friendly state in the nation.