The interest rates are terrible. 

First off- $4.5M for 48 units and 50% are vacant is not a steal, unless this property is located in a downtown area and you have a contact with a developer who will pay 2X to build a high rise. $93k/unit for 50% vacancy doesn't carry hardly any debt, hence why they are capping you at $500k.

After buying this house, I partnered with others to invest in a duplex in the Wichita area.At the moment, I’m living in Tennessee, and I’m weighing two options: either selling my house and using the proceeds to buy a duplex in Overland Park or Wichita with my partners, or keeping the house for another 3 years, transferring it to our LLC, and renting out the entire property to maximize its rental potential ( $1400-$1600 ) I currently owe $200k on the property with a 6.5% interest rate, and my monthly payment is between ($1,700-$1800).

Higher turnover rate of tenant2.

Such cities tend to have lower prices that rise slowly due to limited demand.

The jury is out on summer, but we are already cutting rates significantly to get bookings for our properties.We are currently trending toward 2019-ish rents for most of our properties. 

This has definitely paid dividends for us when it comes to mortgage rates and lending options. 

I agree with most people in this forum that mid-term rentals are on the rise and gaining popularity. 

I'd try to get a 6-month lease at a below-market rate to attract a tenant.

We've run about a 20% vacancy rate. 2 of our MTRs have been great, the third we sold after it wasn't generating enough inquiries over two years of effort.