Build your core three locally: a multifamily broker who knows mom‑and‑pop sellers, a lender comfortable with small balance multifamily, and a PM with real rent rolls in your target zip codes.

It’s the easiest way to get comfortable with the process while you build experience and put together your team.

It stretched me beyond just writing a check — I had to think about how financing, cash flow, and title work across multiple properties interact.Challenges & Lessons Learned (as the funding partner):Title coordination: Watching the operators juggle multiple closings at once gave me an appreciation for how complex portfolios can be compared to single deals.Cash flow management: I saw firsthand how critical it is to plan rehab draws carefully when several properties are in motion at the same time.Exit flexibility: From the lender’s seat, I realized how valuable it is when operators have multiple exit strategies (hold, refinance, sell individually).

Personally, I would feel comfortable buying a property with an existing tenant on a month to month lease using a VA loan.

You can get this funded, but you’ll need a lender who’s comfortable stepping in mid-project.

If your current home takes longer to sell, make sure you’re comfortable with the HELOC payments in the meantime.

More experienced investors can get closer to the 10–15%  (sometimes better) range since lenders feel more comfortable rolling more costs into the loan.The numbers also shift based on the deal itself—buying at a deep discount lowers your cash-to-close, while tight ARVs or riskier rehabs push it higher.

But you will never be more comfortable and be able to handle more curveballs than in your own backyard.

Or, do you simply work with a realtor comfortable/familiar with STRs to source deals in your desired market, let the seller pay the realtor's 6% fee, find a designer to do design/furnishing, then decide between self managing vs hiring property management and paying the associated fees? 

Who chooses growth over comfort!