My wife and I are looking to purchase our first property with hopes to turn it into a STR.

Hi Team,I have a property I would like to purchase for a buy and hold at $42,500.

My business partner and I purchased a 4 plex property in Grand Rapids Michigan.  

Recommend: target Class B properties, maybe Classs C+ in gentrifying neighborhoods.Run your calculations BACKWARDS to determine the purchase price for the ROI YOU WANT.Make that offer.Repeat as many times as necessary until an offer accepted.Before the 2008 Crash, we used to plan on writing 100 offers, to get maybe 10 accepted, to actually close on 1 property.It takes work to be successful!

That at least puts it in perspective for me as I determine how to break into the market.

Then I purchased from Amazon, Wayfair, Etsy, and Costco.

Destin is a great market to purchase a property in, and like already mentioned you would do well to live in the place first and then rent out as a STR later on.

This is very helpful info for my next purchase.

As an aside, we purchased using a bird dog.  

That to me is an alarm for buyers to start bidding fast before 2025 when homes are now listed for $20-$25k more on average.Last month there were higher than expected home purchases and cash out refinances which means that the average investor is watching the market.