I would also add that you join your local REIA chapter (Real Estate Investor Association) as it will allow you to network with other STR owners and get more location-specific information. 

With an 8% mortgage rate, they would pay more than $650k in interest.One major problem for both buyers and owners beyond mortgage rates is the rising cost of property tax and insurance.

Those are spray and pray techniques that don't fit with sellers right now because sellers/owners are sitting on a very low rate and don't want to move to go up 4-5 points on their rate.Listings aren't a start now thing as well.

@Zach Howard the winter months are also the worst time to sell a property!

Follow up with an email to the agent and bullet point your case, which increases the chance that the owner will actually hear them7.)

However, you have to be extremely careful financing 100% of the transaction as you still need reserves, closing costs, etc. and make sure it cash flows.You didn't mention if this would be a rental or owner occupied. 

Anyone that is looking at your assets is always going to need to factor in property management, so you can show that as a real expense (and really make it as high or low as you want).I work in a vertically integrated real estate and development company, and I cannot imagine how things would run if we did not have an internal property management company that essentially works for the other companies but also stands on its own.

@Brett Coultas if you're a newbie, you want to be careful of an "investor friendly" agent selling you something they truly don't understand:(95+% of agents only know how to handle owner-occupied transactions - you can verify this by asking them calculate ROI for you or Cash-On-Cash!

If you really hustle and are smarter than the average bear, you may make enough money that you can buy an investment property.

I’m an investor and the owner of a property management company based in Kokomo, with portfolios extending into the Indianapolis area.