They can more easily call the loan.

They tend to like higher valuations as it increases the county revenues too.The worst of the frustration is they tend to side with the higher valuations more easily, because "That's what it sold for".

Val can tell you - travel 2 blocks one way and things can change drastically.  

Find an area that will attract travelers and buy a couple of STRs, then refi and buy more.

There are plenty of owners and managers out there still doing well with second hand furnishings and providing the bare minimum accommodations to budget travelers or short stay tenants.Once you figure out your niche in your market this answer will reveal itself to you.The key to quality vacation rentals that are more of hospitality experience is in the operations and management.

It happens- I have had clients with top tier credit and income who easily qualify for Conventional but ended up going FHA because it just fit their budget better (lower monthly payment and lower cash to close).

In our area traveling a few blocks often makes a big difference, houses 14 miles away have no correlation at all. 

Any costs before that can be easily tallied up and then inputted into the entity accounting books like Quickbooks or whatever you choose.

Internet and cable could easily be $200-300 unless the HOA has contract pricing and internet is a big issue especially with gaming and streaming, so you have to have great service.Hope this helps.

While everyone is talking true investing or running a RE related business, for most people the biggest single step they can take and take easily, is buying their personal residence.