I prefer to stay further from the coast and hopefully further from major storm/flooding events (potentially lower insurance costs).  

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

Interest rate is 6.3 and cash to close was $23,500.00 due to higher closing costs with DSCR loans.

Don't get me started with costs you're not anticipating.Once you drop this unrealistic "dream", and focus on what's in front of you.

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One your loans will be a higher interest rate, next you will have annual filings, the cost of a registered agent every year, and items like that. 

I have not paid retail for RE in many years and would not in my high cost market (average SFH is ~$1m).  

SizeConsider the number of units you’re targeting:Example: For Class C properties priced at $8M in a market where the per-unit cost averages $80K, you’d focus on properties with around 100 units.6.

The cons, if the borrower doesn't pay on time or completely welshes on it then there's that oportunity cost. 

Leverage your construction expertise to accurately estimate rehab costs and streamline renovations, and focus on financing strategies like hard money or private loans for your BRRRR deals.