Without seeing the deeds and appraisor's data sheet it's hard to say whether you are purchasing a % of a larger building or whether you are purchasing 100% of four condo units inside a building. 

The Florida Panhandle (Panama City Beach, Destin, 30a)  has stellar performance, without having to worry about the rules and regulations that the larger cities might put in place against STR.

You can expect to need a 20% or larger down payment. 

If you do this right, you can expect to get a much larger ROI than you would with a LTR....

We have solid capital liquidity as well as cash flowing properties at this time.thank you so much as always for taking the time to read this and responding if you do.

Obviously with those areas some industries have larger footholds than others, so you probably sacrifice some diversity of industry. 

Obviously it plays a part, but how much is it just a response to other larger market forces? 

Is the larger budget even necessary?

There's also typically a liquid reserves requirement of 3-6 months of loan payments and that you have 10% of the rehab costs.

But, when you purchase a 4-unit property, or something larger the property is not considered to be sort of a commercial property and I like to think of a 4-unit property the same as a business like a liquor store where the higher the sales the more the liquor store will sell for.Four units or more will appreciate in value sort of exponentially when you increase rents and a single family property will not.