Keep in mind of the I/O(payments/period) and game plan on how fast you'd like to pay it down. 

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

We do plan to flip, on-site.

I've read numerous guides and watched many YouTube videos, so I have a good theoretical understanding, but I'm still unsure about the best way to start investing in U.S. real estate.My plan is to begin with long-term rental properties and then eventually move into flipping and the BRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy.

I plan to consult a tax professional but before wasting anyone's time I would like to ask whether I can technically claim the property as a rental in 2024 even though our first contract started Jan. 1, 2025?

Do they come with subscription plans for maintenance ?

The markets open up if you are not planning on doing the management yourself.There are many markets that are growing in population and jobs throughout the country if you are willing to look at OOS investing. 

I'm planning to use that money for a downpayment  to buy a multifamily where I would live in one side and rent out the other side. 

do you know how to read building plans or permits?

I plan to continue holding onto this property.