Overall, just wondering your thoughts on this and what I should aim for as reserves vs. pure cash flow after vacancy/cap-ex.

My approach was purely data-driven with a documented methodology and sources...

va is 0% down but must be occupied as your primary for 1 year unless unforeseen circumstances occur military transfer etc. 20% down is required if it is a pure rental not personal property.

For flips or other pure wealth building opportunities, I'll likely look at other areas.- Katie, Thanks you so much -- tons of great things to think about that I haven't considered.

Our team is looking to expand beyond some of the pure referral based platforms (Homelite / Upnest), and want to leverage our solid Google and BP reviews.

I am curious to hear how much demand there is in Leavenworth/Chelan area for MTRs seeing as it's a pure tourism-driven market (there are no nearby hospitals, universities, military etc that might stay for work).

It's based purely on the cost/rehab unless the appraisal comes in silly low because you've spent more than the home is currently worth. 

My goal here would be to use it purely as a STR, with my family using it periodically throughout the year whenever it's not rented.

You can still find cheap properties and the rents are strong relative to the cost.I like to be in a 3 bedroom about $35k acquisition and rehab which will rent for $675-750 ($675 Section 8) which gives me around 15% cash on cash return after taxes, insurance, vacancies, repairs, etc.Compare this to Martinez, Evans, or West Augusta where you will be lucky to find a 3 bedroom fixed up for less than $100k and the rents are going to be $800-1000.Of course this doesn't take into account leverage or appreciation and the South Augusta area is "less desirable," but I believe the sweet spot for single family rentals is the "blue collar" area with strong employment, good public transportation, and solid homes built after the 60's.Be mindful this model is purely based on cash-flow and I do not consider appreciation.  

¨Winning¨ at the time of purchase is huge and the analyzation (asset, market and #´s) are pure real estate investing basics.