The fact that some challenge this method is great.

Challenges?

The equity gap can definitely be a challenge but there are still deals out there - typically with homes that were purchased in early 2022. 

This is true for bonus depreciation items as well.  

I am not looking to do it as a MTR, and I am looking more to make it a true furnished LTR (1-year lease).Maybe that's not really a thing though? 

So, I am truly coming into this blind... but excited and optimistic and ready for a new challenge/adventure!

I think you’d be better off getting a true appraisal.

NC is a great market for your goals, however it will be challenging to find inventory that has much cash flow; many people who toss money into multifamily here do it to avoid the tax bill + take the 10 year runway of growth.How much SHF RE do you currently have?

Challenges?

2024 will go down as, "The Year of Taking Action".Getting back in the game came with some challenges.