Once you start hiring someone to book rentals, clean it, manage it, etc. you lose that extra income and then it makes better sense to rent it long term.

I'd reach out to local brokers to get a sense of what their off-market inventory is like and devise a strategy based on all your findings.Best of luck to you!

I think open houses are great because it saves you time, while also leaving the renters with a sense of urgency by seeing other people interested. 

I don't mind being aggressive if the deal makes sense, I just don't want to overextend myself with my primary residence.

That might make sense for someone with just a handful of units, but since you seem to be growing quickly it seems like your time would be best spent working on (or even in) your business rather than doing the bookkeeping for your business. 

It didn't make sense to me because I'm a local real estate investor - I could find local deal / flip / rent/ manage cheaper than homeuinon.

Another area that would make sense for me is the DFW metroplex, with me having lived there for 6 years and knowing the area.

@Seth Borman that totally makes sense.

If there's an auction date then there should be a sense of urgency.

Also, probably makes more sense for you to capitalize the other $5,000 back into the loan.