With the additional sq footage we would hopefully be able to buy another rental property elsewhere.Any BP members with experience with this sort of endeavor, or words of wisdom with lending would be greatly appreciated.  

Investing out of state can already be a scary and possibly risky endeavor if you align yourself with the wrong characters. 

That is one of the best kitchen transformations I’ve seen (and I’ve seen countless).The rocks around the perimeter are a fantastic touch. 

While the initial cost may be higher, on-market properties may be in better condition or in more desirable locations, making them easier to sell for a profit.Best of luck with your flipping endeavors!

that is an amazing transformation congrats!

I enjoy seeing an ugly house transformed into a sensible, comfortable, and yes, aesthetically pleasing home. 

Anyhow, I am looking for any advice or help with my journey.Best of luck with your endeavors.

It would be a VERY expensive endeavor to compete, likely beyond the financial means of most STR operators.  

Bottom line:  which party(ies) is actually running this endeavor?

The current goal is to purchase one long-term hood property per year through my family investments and another through my business endeavor with a partner.