@Jimmy Rojas I always recommend trying to start out locally so you can get a feel for how real estate investing truly works.

Before making the offer, we did a quick analysis and felt this property could work as LTR and possibly MTR, or STR.

Waiting for market to rebound Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

why not just keep doing whatever you're doing that's working?

We don't have kids yet, so we knew this would be the most comfortable/convenient time in our life to house hack.

Sitting on land, Waiting for market to go up Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

As we get older, we no longer have the desire to add more homes to our portfolio.That said, with our experience doing rehabs, working with private funding and with the majority of our homes paid off, we are now in a good place to start offering investment funding ourselves. 

If they are paying out 5% rates to their customers to relend out they usually need at least 150 spread to make any money.CMBS and LIfe Insurance can be lower on the interest rates but you can get yield maintenance or defeasance which is very expensive if you want to break the loan early.

no one really wants to hear this though... they want the shortcut.there are also ways to recycle capital, like the BRRRR method, which works but is tough right now with interest rates so high and deals tough to find (and 10 other things, but those are big ones). 

The space should accommodate your family comfortably, so if it meets your family's needs, it could be a good fit.When considering your third property, think about what works best for your family.