Goal setting: Lots of different sources - using the well-known S.M.A.R.T. goal system for setting goals.

Your goal and mindset is a good start, but I would be remiss if I didn't share some honest thoughts. 

DM me if you’d like a copy.Holding - A Long-Term Financial Independence StrategyIf your goal is long-term financial independence, long-term rentals are the way to go.Real estate long-term is forgiving.

The idea is not to do a BRRR or pull cash out, but simply to:⁍ Use less cash upfront on deal #1⁍ Preserve capital so I can move faster on deal #2⁍ Refinance later to remove PMI and ARM riskBased on my rough math:⁍ Initial loan at 10% down ≈ $180k⁍ To refi at 80% LTV without bringing cash, ARV would need to be ≈ $225k⁍ Realistically, most near-turnkey deals won’t hit that, so I expect I’d need to bring some cash to refi⁍ Estimated “extra cost” for this strategy (PMI + higher interest for ~6 months) is roughly $1–2kSo my core question is:Does it make sense to intentionally accept a bit of short-term inefficiency (PMI, ARM, refi costs) in exchange for faster portfolio growth and better capital velocity early on?

Preserving capital and keeping things simple, or growing a portfolio faster.

Even though it would be more labor-intensive, we would (hopefully) be able to pay back the HELOC faster and hopefully profit on top of that.

Cash flow compounds faster than you think.Rents rise.

Hello Jakob,What you should buy is completely dependent on your long-term goals, not your feelings or opinions.

.: You’ll need to find a way to raise $5-10 M or get more realistic goals.

In some areas, the ROI ends up being more stable than pure nightly STR.At a $250k purchase price, I’d pay close attention to:• Local STR regulations and enforcement trends• True occupancy patterns (not just projected revenue)• Seasonality dips• Insurance + turnover costs in that zip code• Your exit strategy if you ever pivot to long-termOut-of-state can look stronger on paper, but it adds layers operationally unless you already have reliable boots on the ground.If your goal is scaling, I’d focus more on operational predictability and repeatable systems over chasing the highest projected ROI.Happy to share a little more of what I’m seeing in ATL from the operations side if it helps.