We are certainly over-budget and are starting to think we bit off way more than we can chew for our first investment property!

Not having the DTI may be a warning to chew on what you have for a while before trying another mouthful.

Did I bite off more than I can chew, or am I on the right path?

The biggest threat is from squirrels or other rodents chewing through them in the attic.  

We generally don't allow new pets into a house if they didn't have one when they leased, because that generally means either a puppy or a rescue and either one is going to be more prone to accidents in the house, chewing on things, etc. 

Divide by number of months - congratulations that is your pet rent (or add a little bump if you think you can get it).Rules - the pet deposit and pet rent cover the additional REGULAR wear and tear on the apartment - which is really just saying floors, but in the lease you specify that it is for REGULAR wear and tear on the apartment, and specifically does not cover damage to trim, moldings, doors, windows, cabinets, or built ins (basically anything with wood - which they chew).

This has given me a lot to chew on.

I have a buddy in Houston with large lumbar and tool yard that I believe could make good prices for new development, but again, despite the cash, I am inexperienced and don't want to make a mistake biting off more than I can chew.- While I can manage 1-3 STRs (I think, especially if I live in or near them) and one sub-15 unit multifamily complex, I definitely cannot for more than this on my own, and still have my other businesses to run, and want to leave adequate time to devote to those as they are my only revenue sources (another reason why I'm interested in some more livable cash flow).- And i guess as a bonus, if you had this cash, what would you do to exponentially multiply it over a 100+ year period?

A Boxer is more likely to chew and cause damage.

In fact, it's better for me and all the existing low-cost high-return investors if the big-pocket OOS investors don't try to pursue this and chew up all the inventory.