Now that that’s done I am looking into use the rest of the funds at a foreclosure auction to acquire my first investment property.

Or, acquiring in satellite markets at sub replacement cost values.

Thanks River, I'm acquiring using creative finance, but i plan to remodel a bit, then keep this as a LTR

The down payment to acquire this sub to is $25,000. so you give them $25k, you take over a $70k mortgage and they are going to pay $165k in a few years - if you will not do this deal send it to me I will do it. 

You left out information that maybe relevant such as taxes/insurance per year, maintenance cost anticipated per year... plus other expenses depending on rental such as management fee(if you aren't manager), advertising cost to acquire renters, etc....

Hi community, I'm in the process of acquiring my first STR property in Joshua Tree and have met with a co-host that I really liked.

Quote from @Stuart Udis: The Philadelphia Housing Authority (PHA) recently acquired a 360 unit 12 story multi-family building for $24M and  a local news outlet  reported on the building.  

@Michael Izbotsky In community property states like California, assets acquired during marriage are typically owned equally by both spouses, which may complicate transferring jointly owned property into your sole-member LLC.

If you move into a property acquired through a 1031 exchange and make it your primary residence, you may qualify for the capital gains exclusion under Section 121 (up to $250K single/$500K married) if you live in the property for at least two of the last five years before selling.However, gains attributable to the time it was a rental property remain taxable (non-qualified use), and depreciation claimed during the rental period must be recaptured at a 25% tax rate.

In addition to using your own funds, have you looked into securing grants to "stack" the capital you have to still acquire properties?