Totally ok if you don't plan to take any capital out as interest rates are likely higher than your original loan, and it sounds like the deal will cash flow, but just wanted to point that out so you are speaking the same language. 

I found nothing good at the ones near my STR, it was total crap that I would be embarrassed to have my guests use.

The total cost including construction and permits (but excluding the land) comes to about $2.14 million.

Quote from @Nick Rivers: What's the best content you've found to help you learn how to underwrite these deals? 

Maybe 1500 other closing costs, so 6k total. 

Total number of people in the 4 plex is 6. 

For example a 6 bed rents for $4K but two two bed units might rent for $5K total.

The sum total of taxes of each of the 4 units will usually be higher than if it were apartments.

I totally agree with the idea that local markets offer better value in the long run that cheaper out-of-state markets.Finally, Just because an experienced property manager would not do a house hack or purchase a small multifamily property does not mean it would not be a good fit for you and your situation.

As already mentioned, FHA mortgage insurance would most likely be higher for you than conventional, plus you have the upfront mortgage insurance that would be added to your total loan amount.