I don't intend to live there, but I want to hold onto the property for a while once I purchase it.

I currently own a home in Seattle (Queen Anne) that has appreciated roughly $1M since we purchased it nearly 9-years-ago. 

You can do the math, but assuming it takes 6 months to get your money back you will be floating these types of purchases with cash or hard money loans. 

The long-term rental price can cover loan and related cost when we purchased it 8 years ago. 

Purchase price: $607,000 Cash invested: $30,000 Just got done with this unfinished home went in and done most the labor myself with my brother and cousin to finish out this 6900 sq ft home we added and addition 900sq ft during the process.

Just purchased my first STR in March and looking to buy more.

If you believe the appraisal is completely wrong, you can order a new appraisal.When you say 75% LTV, do you mean 75% of ARV or 75% of purchase price?

Lastly, it cost money to sell real estate, typically 6-8% of the purchase price in transaction costs.

@Adam Rivera, the 1031 has to  be a sale of investment real estate followed by a purchase of investment real estate. 

For the first four properties that I purchased, the loan officers sent me "initial disclosures" which clearly stated the interest rate expected closing, expected monthly payment etc.