However, we are taking over from a PM to self-manage and are inheriting the current setup.Our biggest concern is that this first communication from the tenant was a sob story asking for $500 back/off rent.

Their funds are very diverse in mobile home parks, self storage , industrial, Multifamily, etc   So they are like a fund of funds.

If we do a Self Storage development we expect a 400% COC return.  

Which would be more effective for pitching my Airbnb arbitrage business?

Whether that is most contractors, hiring an engineer, or getting self-educated.

Once you have the number of homes you want, you pour your cash flow and extra income into the smallest mortgage until it is paid off, then you move to the next and create a snowball effect.

I highly suggest you use our marketplaces to find trusted, investor-friendly team members: Tax Pro finder: https://www.biggerpockets.com/business/finder/tax-and-financ...Lender finder: https://www.biggerpockets.com/business/finder/lendersProperty manager finder (if you go that route and don't self manage): https://www.biggerpockets.com/business/finder/property-manag...

If you have favorable terms on those first mortgages, you might find that a HELOC or a second-position loan is more cost-effective than doing a full refinance or a DSCR loan.

If interest rates come down, then we should see more demand for homes, which will increase prices, and have a modest dampening effect on rent growth. 

You’re able to learn the basics of a real estate investment with lower risk and build equity at the same time.Because you're in the military, you'll be able to enter a property with 0% down which means you can leverage your money way more effectively.