I appreciate the heads-up about the saturated multi-family market, that's definitely something to consider. 

Not sure if you own or rent your primary home, but not all DSCR lenders will lend to first time homebuyers and/or first time investors...just a heads up.

Also I have not worked out the financing yet. if I just use my cash then the Cash on Cash drops to 8 or 9% and that would be below my Cash on Cash target.Generally speaking and of course just numbers I picked out of the air for reference when running numbers in my head, I am looking for Cash on Cash greater than 15%, high probability of long term occupancy, and no expected major Capex for 2.5 years after purchase and purchase time repairs which I would add into the cash on cash evaluation before pulling the trigger.So there are some more details to be worked out in my head but being it is my first one and only learning what I could from youtube videos I thought I would get some feedback.With all that said, in my head it seems like it could be a good start.Thanks again Jaycee and Gavin for your feedback.

I am hoping this gives me a head start in funding the initial investments.I also have some high balance liquid assets, but I am putting all or most those funds into other investment vehicles to diversify my holdings such as stocks, bonds, etc.

Its just business  no one is putting a Gun to these folks head who join up.. 

We now own the beat-up POS property that we need like a hole in the head.

I also spoke to Kenny Shaw, who heads Mid South Turnkey Homes.

That will help you diversify and also give you optionality when head winds come.  

Don't look for lowest rate, look for lowest cost on fees as you will either refinance out of that loan or sell- the prepay will hit you on the back of the head like a cinderblock wall.

Answers to the other questions depend on a lot of factors, and the temperature of the market as we head into presumably tough times.