In this environment, its a very powerful option that isn't normally available to "investors."

@Roi Mordechai lahini Texas has high property taxes, but landlord friendly usually refers to legal environment, state laws favoring property rights over occupants’ rights...and in some states I am amazed at how difficult it can be to get non-paying tenants, sqatters, ex-owners and practically anyone out of your property once they have gotten in..even if without your knowledge or permission.

Of course you'll have to investigate whether the same environment to make your returns exists there. 

Maybe you can disconnect the emotion, but being against live bidders in real time environment makes this harder than submitting an offer on an open market deal, or through a wholesaler.  

Partly due to what they are calling "accidental landlords" - people listing their homes for rent because they don't want to sell in the current market environment.

You're also assuming an environment of dishonesty and distrust. 

So I've been consider a ration of something like 5:1 LTR-to-STR properties, so that the latter would provide the cash-flow necessary to support pursuing the former.I don't mind the more active environment of STR.

Congrats - thats a great year in a tough environment

They are proud of the way they are currently operating in this environment (or better yet, that they avoided the current environment altogether) and are happy to disclose that they are only 5-10% off their NOI targets, compared to peers who aren't even in the ballpark, and have issued no capital calls or distribution pauses. 

Assuming you find a good development for re-sale opportunity, they are usually easier to finance in today's interest rate environment because the lender will focus on the costs and whether there is a good thesis behind the as complete sale figure.