The area is expanding rapidly and I could see this property really going up in value as there is a very limited amount of buildable space between the mountains and the ocean, so I see this as a great investment and I would love to keep it.

In a rapidly-rising interest rate environment (such as we've recently experienced) that tradeoff may or may not pay off.Unfortunately, in CRE finance there is no perfect financing vehicle and you can't eliminate risk--you must choose which risk you want.

It seems to be a pretty natural evolution for many investors.

He took a 401(k) loan to fund the down payment on a four-unit building in a rapidly appreciating neighborhood.

Take a look at Grand Rapids, Kalamazoo, Lansing, Muskegon and Detroit.

I think if I can achieve that I will rapidly learn, then be able to evaluate what steps might be best for the next stages.

While I'm grateful for the appreciation, there comes a purchase price for new acquisitions where the returns diminish rapidly and tougher to find properties that fit my buy box. 

Look for a city in state that is growing rapidly - appreciation comes with that.

I'd say one of the issues I'm having in the Sarasota/Bradenton region is the rapid changing regulations in regards to STR.

They usually have a step down on that penalty like 3% year one, 2% year two, 1% year three and so on and so forth.So if you are buying a deal with the intention of rapidly increasing it's value in less than 24 months in order to refinance it and pull your cash out, you might want to go with a credit union for the acquisition financing because FCUs are barred from charging pre payment penalties.I could talk about this for hours about all the nuances but my fingers don't type that fast lol