I currently have a client looking to purchase their first investment properties here this year as well as in other Midwest markets that are also showing some of these same factors coming to light.Another thing to consider is that OKC is home to nearly 20,000 military / government workers with Tinker Air Force Base and the Army and Air National Guard posts there. 

But if the new investments will only barely cover the extra cost of borrowing, it might be better to find other ways to access the equity or just wait for a better time.

My other concern is, in worst case scenario with an out-of-state CPA- if my tax return is audited and I decide to go to court, does my CPA need to fly to my state? 

Some new investors think of it as a no-money down deal and given those other costs, it really almost never is.

However, with the rates and conditions of any triplexes and fourplexes we could find (we did find one, but it's in the Pendleton Heights suburb of KCMO, so we were worried about it being too dangerous of an area), we were wondering if it's worth it to buy a duplex and rent out the other half to help pay the mortgage, or if it's more worthwhile to rent an apartment and try to save up to buy a residential or commercial MFH later?

The only other question I would suggest is that you do engage a property management company to review your quad and review your monthly financials.

I don't know that I trust other people's "cleanliness" 😅. 

While we currently live in Stephens City, VA, we’re open to investing in other states where the numbers make sense.Real Estate Goals & StrategyInvestment Focus: Buy-and-hold rentals, short-term rentals, and potential multifamily propertiesMarkets of Interest: Open to investing outside of Virginia in cash-flowing, landlord-friendly marketsCurrent Stage: Learning, networking, and preparing for our first investment propertyLong-Term Vision: Build a diversified rental portfolio that provides financial freedom and generational wealthWhy I’m HereNetworking: Connecting with experienced investors, agents, lenders, and property managersLearning: Gaining insights from those who’ve built successful portfoliosCollaborating: Open to partnerships, joint ventures, and creative financing strategiesWith my sales background, I understand the importance of negotiation, deal-making, and relationship-building—all of which I plan to leverage in real estate.

Right of the get go that tells me many other people have looked at it and did not offer the asking price. 

I don't want to rent it out as it seems like an electrical liability - and I'm not sure if renting it to others would be legally possible seems how we don't own the land.