What are other businesses doing in your market? 

I am not too far away in CLT and work in the SC market frequently.

I appreciate any recommendations your references the BP community can provide in this market.

I know nationally there has been a glut of MFR entering the market.

Investorlift for wholesalers is supposed to help you move deals specifically outside of your market.

Worked with an investor friendly agent in Phoenix who knew the market very well and was managing his own properties.

Yes you could buy 1 house cash for $500,000, or you could buy $2,500,000 in real estate with 20% down.When the market appreciates 20%, one would yield you $100,000 while the other would yield you $500,000.This also doesn't calculate the increased cash on cash return you will get with increased rents across all of your properties rather than 1. 

It works better in some markets than others but for the most part is accurate. https://www.vacasa.com/vacation-rental-estimatorLet me know if I can be of any more help!

I did a flip in Phoenix and did very well but have been intimidated by the Santa Barbara market.

Are you sure $1000 is market rent for your unit as the upstairs is renting for 2.5x time?