Im a former Marine and long time business owner but new to real estate investing.

Either 4 hours from myself or my business partner in KY which gives us a good radius

Partner Driven financed the E Church Street deal using its own capital, covering the $200,000 purchase price and $5,000 renovation costs.

Depends on whether you're looking for cash flow, appreciation or both, what cost of entry you prefer, turn key vs. needing rehab....there are good and bad areas in every state. 

.- It's been well kept- Between transaction costs (e.g. broker fees, transfer fees), capital expenses, tax recapture I would need to sell it for $1.9M to break even.-  At it's height (2022), it could have sold for but $2.7M. 

Work with the local experts- talk with local zoning officials, engage architects, and reach out to contractors to understand the cost and feasibility of your project.Run your numbers- do some forecasting and layout some financial models to project costs, revenues, and returns.Make sure you are utilizing your team- aforementioned real estate broker, financial advisor/ CPA, and lawyer and others as you go.Best wishes and good luck.

Or is this specifically for the Rental, meaning that it is a business  policy?

You will need to be spending 2-3 hours per day on the business in the beginning.

STR management is a highly local, hands on business and their business model just doesn't make sense.

I recently started my wholesaling business and within my first month have already locked up a couple Vacant land properties and I want to go all in on this strategy!