I would love to know thoughts on if this is a good STR market, should I wait until housing prices come down,  any advice from those in the area, etc.

The other lesson I learned is that the right fit for me in this investing process is to long term hold the properties I purchase, rather than flip them, unless market conditions are so good that flipping makes sense.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

🏡 We’re a Real Estate financial company looking to help first-time home buyers navigate the market.

If your manager has the rent $150 below market the unit might be filled in 2 weeks.

We sold the property a few years later off market for a 6 figure return.

Buy price $823, sale at market $1.75, sales costs ~$100k. 

I am investing in the Waterloo/Cedat Falls area mostly, but will be jumping into the Des Moines market soon.

Here are some considerations for commercial real estate:Higher Income Potential: Commercial properties often generate higher rental income compared to residential properties, especially in prime locations.Longer Leases: Commercial leases tend to be longer (5-10 years or more), providing more stable cash flow and less frequent turnover.Tenant Diversity: Depending on the property type, you can diversify your tenant base, spreading risk across multiple businesses or corporations.Market Dynamics: Commercial real estate can be more sensitive to economic cycles and local market conditions, requiring a deeper understanding of business trends and tenant industries.Purchasing: Generally, commercial real estate will require 20% down.Choosing Between the Two:When deciding between commercial and residential real estate, consider these factors:Investment Goals: Are you looking for steady rental income, long-term appreciation, or both?

How do investors currently invest in this market when interest rates are so high then?

First, I'm not in your market so the rules may be different but the result is the same.