Utilizing Seth's local market expertise, we quickly assessed the property's potential.

I’d like to diversify into another market in the near future - so we may be looking again in Montgomery.

We did have 242 hours of labor that were completed ourselves so this incurred no additional cost to the budget.

Most banks are going to write as @Chris Mason mentioned - 5-10 years/ 20-25 year ams in this market.  30 not so much, especially on retail. 

In addition, what do you do in the summer to keep your STR booked?

If you are planning on buying it with a smaller down payment, that will also increase your mortgage costs as you are borrowing more and also need mortgage insurance.The price of the home (from the seller's perspective) is based on market value and condition, not on whether or not it matches the 1% rule.   

I wanted to share some insights on the Memphis real estate market for July 2024.

Considering their LTV is at market or debatably below market (depending on the asset), if the interest rate or loan terms aren't advantageous, I'd also suggest getting quotes from other lenders.Since you are located in upstate NY, I'd look for local banks.

Charleston is such a great market.

Specifically, I would appreciate recommendations on the following:What courses, certifications, or degrees should I pursue to gain a strong understanding of the real estate market?