Since I live here, there's more flexibility with when/how I renovate and could definitely see us doing this a few more times.

No but you should have some closing and flexible closing time to be able to identify that next property. 

It seems like a great go-to to start with because there's not much flexibility with banks and I don't have capital to always put 20%-30% down on a property.

I also have a great network of trustworthy people I could easily build a team with.Would it be better for me to put all my money into a small property locally and utilize my existing network, or should I buy out of state and have more flexibility to BRRRR and scale up quickly?

There are a lot of services out there, as far as skip tracing goes take care to find one that offers flexible pricing options to fit your needs, has excellent customer service to walk you through the process, and even a referral program.

Recently many builders did not want to sell to investors....with the change in the market many may have become more flexible. 

I am Posting this for people of different areas to just talk about what you do in your area and what are the good and bads of each genre. 1.)

I live near downtown Tampa and I am open to exploring options throughout Greater Tampa Bay…If residential, I’d prefer an individual condo that has HOA flexibility for a STR or multi-family properties.  

The thought behind doing Tenant B in a month-to-month is that I will not be locked in to having that other unit below market rent, and I can have flexibility around that unit if we needed them to get out for renovations as well. 

Thus it is opening the opportunity for lower down payments and sellers being more flexible to work with buyers since there aren't 5 cash offers one each property as folks are looking to park 1031 money.