If you budget the negative cash flow over the course of the hold period and have reserves set aside to fill the gap, there is no problem (assuming your investment meets your target appreciation rates - I understand there is no guarantee there). 

With high price per door and high rates, you wont find any cash flow.STR market is also very saturated and we're seeing more regulation there.I'd keep the end goal bigger multifamily deals.

Quote from @Paige Corsello: Hi Bobby, the majority of my business is in Pittsburgh, PA and Florida Paige I can go 80% cash out in PA In FL I can go 75% cash out and 80% rate and term

For example we invest in mortgage notes so we have an AI agent that only scans the documents we have and lists and if we asked a question like "who are our top rates attorneys in texas", it will give me the results vs. having to search files.

In Philadelphia where I am located the going rate for this service is 1 month's rent.

I have $25K cash for a down payment and can add $20K/year ($1,600/month) toward payments.No W2s, I've looked into building a small home right away and using a bank statements loan (have about 8800. monthly income) , but with 9%+ interest rates, it’s beyond my budget.Is there any sort of creative financing ideas possible or private lender possibilities?

Labor is cheaper down there, USD $2.50 per hour, which is normal rate. 

While not impossible, you'll be paying a much higher interest rate for the loan than with 20%+ down and also you're likely paying some points or splitting the profit if for resale. 

I had a “lender” tell me he’d give me a personal loan with a fixed 4% rate on a 30 year term at whatever amount I wanted because he would like to “build a relationship” with me. 

First off- $4.5M for 48 units and 50% are vacant is not a steal, unless this property is located in a downtown area and you have a contact with a developer who will pay 2X to build a high rise. $93k/unit for 50% vacancy doesn't carry hardly any debt, hence why they are capping you at $500k.