I own a 30-unit community and found it much easier and more cost effective than the 1-4 family and flips that I was doing before that acquisition. 

This also gives me solid staying power when maintenance costs arise. 

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

How about the increased home insurance cost for a landlord policy?

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

The only approach I’ve found effective is offering a deposit alternative, which lowers upfront costs for tenants without devaluing your property.

This also costs 200-300 EUR depending on what's included.

If I can make a suggestion...Yes with 3 points you might be able to get into the 6's - but let me give a quick example:Let's say loan amount is $250k and making some other assumptions, paying 3 points down would cost $7,500 however that might only save $195/mo. 

When I have some free time, I'll research other options that won't cost a fortune for the small guy.

It was a huge investment, but it cut the electricity cost by the full 2K per/mo all summer.