You can ask your CPA on the cost segregation short term rental loophole.If your partners credit is bad but you have cash, you can just cosign for the loan or go DSCR/hard money.Dayton is a solid market for BRRRR investing.

Since it is a family member and I would potentially buy the property for under market value.

This year I may see if if I can get a construction loan to build 20-30 apartments, then refinance with an asset based lender. what markets?

This is one of the main inherent risks with pre-construction, and the pre-construction market has cooled, and with impeding tariffs, there is some uncertainty around where prices will be in the coming months.One thing to clarify, are you looking to buy an investment property or a primary residence (or perhaps abit of both where you live in one unit and rent out the other)?

I come from Europe too, and I know it can be overwhelming when you look at the real estate market in a new country and with completely different building technics ( sticks instead of bricks), but is not as bad when you have the right team in place. 

Sorry, Boulder won't work; it is a tough market.

If Allstate is not offering proper coverage (stress the if) and you can get proper coverage in the surplus lines market you would want to do that. 

Being a broker in Western Washington and an investor in Tacoma, I completely understand the challenge of getting started in this market.

However my market is currently Arizona.

My first duplex was a turnkey, off market property.