I'm in a very small market where the average house price is only about $140K.

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.

While the initial costs are a consideration, the long-term ROI can be favorable if there's sufficient demand in your market.

I *thought* I'd done my market research, but I clearly have more to learn!

I'm under contract to buy a 6-plex at around 60%-65% of its actual market value.

Here’s a quick breakdown:Cash-Out Refinance: You’d pay off the existing mortgage (the $45k balance), get a lower interest rate, and pull out the additional $20k.

Let's connect if you want guidance on how to setup your STR versus these competitors in this market.

Also, connect with other like-minded people in your community and attend as many in person (and online) meetings at your local REIA groups to network and connect + find out about off market deals and get on local wholesalers "buyers lists".Best of luck!

How do current market conditions influence your decision to flip or hold?

Additionally, I'm all ears on any advice for someone in my stage.