I spent my entire summer doing maintenance and ensuring comfortability.

I'd consider doing some kind of cash out refi on the property at a number you're both comfortable pulling out, while still leaving $ for reserves to maintain the STR you currently have.

Quote from @Ryan Hakes: @Jay Hinrichs Incidentally I heard about this from an ad on Facebook so came here for explanations and comments as the ad was clearly intentionally ambiguous and designed to put you into a marketing funnel.Incidentally, it's perfectly acceptable to write into an agreement that earnest money shall be due 3-5 banking days after acceptance which is enough time to use your end buyers non-refundable deposit (except for free/clear title).

It will all depend what you feel comfortable in terms of budgeting and the type of repairs needed.

Having the right partners on the design and build is what I have found to be the most important piece of the puzzle.  

Depends who you ask and how secure you feel about your income On the one hand being debt free is great, but leverage allows us to build our wealth quicker.RE investors are notorious for being cash poor, so I would avoid thatIf youre able to comfortably save 100k a year and have enough reserves, I think buying leveraged properties is the best way to scale.You could kill two birds with one stone theoreticallyThey say paying an extra month a year towards principal saves you 7 years on a 30 year fixed mortgageUsing that logic you can add 2+ months a year on your primary, and buy 1 property a year and keep enough reserves. 

these were common west coast rambler designs..

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

Face the fear--get yourself in front of more sellers.Little by little, your presentations will become more comfortable, and your success rate will increase.  

In 2021 we bought the building for $1.5M using private lenders, pushed the occupancy from 50% to 80% occupancy and it appraised for $3.125M, allowing us to pay back the private mortgage.Right now, we are in the predevelopment process of design and piecing together the capital stack for the redevelopment deal, which will be made up of historic tax credit equity, RestoreNY Grant, DRI Grant, etc.