Hi Jeff, as everyone has mentioned, I would suggest house-hacking a 2-4 unit if you have the means.

Rates are not going down and something like that we would not do, we would go 24 months max and would be 12%+. so 10% is good YUP that is a smokin deal for private money for 5 years.. now the OP does not mention points if any..

I work with a lot of MTR investors and what I am seeing frequently with multifamily acquisitions, particularly with new investors, is that they often test the property just like you're mentioning, as a way to dip their toes in the water and see what works in their area and for their personal style.

Not to mention the cost. 

Like I mentioned, Decatur is one of those areas.

Boston is a "mature" market with strong appreciation, as @Dan H. mentioned.

Purchasing a STR in a somewhat sketch area is a terrible idea and as others have mentioned, is going to open you up to potential issues. 

My contractor mentioned he might've left them since he felt bad about up and leaving the job. 

You will be waiting a long time - that as mentioned was a black swan event just like when they went to like 18%.Historically speaking expect rates to be between 5-8%. my recommendation to anyone buying real estate today is if you buy, expect to hold it for atleast 5 years 

Lets say you needed $100k in financing at 12% + 2 points and it took you a year to rehab and refinance that is an extra $14k + closing costs.2. you mention roof is 18-20k.