Reduction in sale price does not improve cash flow as much as the  improvements to the property will produce in rental income. 

This is a long play, don't be worried to go slow especially when you're putting such a large percentage of your wealth into one asset.all that said, asking "how can I make this work" will eventually produce a positive result.

And even if you're buying that property with 300k for cash, no renovation could raise the value enough to produce enough additional equity to take out at refinance. 

The goal is to buy and hold a property that produces positive cash-flow (doesn't have to be a lot - I'm just trying to have a first investment that doesn't fail). 

We also do not self manage our STR units but they produce enough cash flow to pay for a PM which would be less the case for units purchased today.Most Coastal So Cal investors are relying on Market and Rent appreciation. 

@Jesse Boren I am producing 4 videos on the VA loan and strategies as we speak.

Due to changes in the property,2019 will be higher producing.

We are on year two with that owner, and that unit is still producing a profit of over $1000 per month or $12,000 per year after all expenses .

That way I could still produce the same quality result within the same budget. 

.+ That way when you move, each unit produces 100+.