The question is mostly a personal financial planning question and it depends on your preference and what balance of risk and access you'd like and would be comfortable with.

Moving forward blindly on that deal would have put our investors money at risk, which isn't an option, so WE took a $60k haircut to prevent that.

Germantown has better cash flow potential but may require more hands-on management.

As the risk goes up the cost of money goes up.  

STRs have a huge earning potential but it's definitely something that takes a lot of time, patience, and effort these days.

Is that amount worth risking at this time potentially having to pay from your primary residence?

What are the next steps---BRRR seems like a good method for this- as theres potential for long term renters(near elementary and highschool)Step 1- look for a hard money loan(will they also cover construction?

It saddens us when one of our partners did not realize the full potential of the profit they were seeking by investing in rental income properties.

Dallas on the other hand has more growth potential in certain markets in my opinion.

There are other questions you need to answer in order to see if there are potential obstacles?