Preferably, I like to buy because this takes out competition, greatercontrol over pricing, and hopefully they have some land to expand on.

Besides, you want someone to have your back if things go sideways.).Beside that--code enforcement or some sort of expedited process would be much preferable to the whole eviction process--go through the eviction process if you need to but I would try to do it faster than that. 

Rate prefere to be around 5%.  

I have $250k cash to invest, and I’d prefer to do it in STR, and get as close to my goal of 4-5k cash flow possible.

Copper or PEX are ideal (I prefer PEX since it wouldn't freeze in the winter and bust). 

@Emaria Mitchell Sounds like you need about $35k cash PLUS a healthy emergency fund, no bad debt, and preferable a deal with value add potential.

Again, everyone does these things differently so I am not sure what your preferences are.  

I would prefer to stay around 400k for my own comfort level if possible but hear what youve all said.

I personally prefer separating the two for everything when it comes to business.

Even if you do start some direct marketing, many sellers know that the market is hot and prefer to sell on-market for highest premiums.