Usually the numbers don't work to build in these neighborhoods, unless government tax credits, etc.Do you see the problem with your two statements:"The turnover costs could/will be high"and"How much more damage could they do?"

I'd bring island out a little more. my advice is make sure all rooms are 110 sq ft minimum. some of these look super small. we build a very similar one in our market.

It's exciting to see your focus on building a real estate portfolio for financial freedom!

Build a financial history with your LLC. 

@Max Bellino For smaller properties like your 2–4 unit multifamily buildings, an online cost segregation study is a quicker and more cost-effective option, providing sufficient accuracy for straightforward properties.

I sold an apartment building and as I lived in the building was always there when my realtor showed it to prospective buyers. 

You should reach out to @Melissa Haworth she can get the actual numbers/rents on STRs in the area to help run your comps.Each building is different, each area is different, it is important to find accurate data to make good decisions.

Please double check this and make sure that wasn’t the amount for the raw land prior to the build.

Entity structuring, basis calculation (i.e. breakout between building and land), deductible expenses, etc.

New builds, new developments, plenty of rentals within driving distance of the city center, and there are still plenty of areas where a good eye for a rehab job will get you a good ROI.