You jumped into the deep end of the ocean when lots of people just talk about investing and won't go near a shallow 2 foot pool. 

(I'm not an attorney and i say read more on this but seems... like a local attorney can handle these in the state you plan to buy and hold the assets in.)Side note if anyone is interested in partnering with me i live in sunny southwest Florida and maybe willing to partner on something.

Same can go for finishing a basement, putting in granite countertops, adding a pool, flooring, etc. 

Given that the property is located in a C/C+ neighborhood with a tenant pool that may not be the best, and with many neighbors owning pets, I'm debating whether to replace the carpet with LVP (Luxury Vinyl Plank) flooring from the outset.I have a cat, and while he's generally well-behaved, there's a chance he might pee on the carpet if he feels threatened by other animals (read: if the other animal is inside the same living space as him).

@Sunny KarenI agree with your thinking as you can always pull money out later.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

While the lender pool on DSCR for STR has shrunk to cash out equity, it is for this point in time.

If they have a pool, you'll need a pool (or something of similar value). 

i would stick to upto 4 units not to cut out the house hacker buyer pool 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.