Larger properties offer economies of scale and better financing terms, but they also come with more complexities and higher upfront costs.

Understand your short term and long term goals.

Since you have high incomes and can cut your spending quickly if necessary you should be ok with some cash in a HYSA and some short term credit available.

Most lenders I work with go off of the Pro Forma income expense on calculating DSCR.The terms can be all over the place. 

Quote from @Jake Bute: Good Afternoon,I listened to Wheelwright's podcast the other day discussing how short term rentals do not have the same rules as long-term rentals when it comes to some of the tax laws around active/passive investing.

Almost all 4 baggers occur through one or more of the following1- Long term hold riding price appreciation.  

The tenants have paid and if someone is thinking about moving out then an extra surcharge that hits if they aren't out in time for us to turn the place for a lucrative AirBNB short term rental can help massage the move out timing.That said with MTR we do not have the cleaning costs that eat up a lot of STR gross, and its lower hassle in some ways.  

This my friends on BP is just the reality of Real Estate you have two basic methods One mom and pop keep their day jobs and start buying long term hold rentals as they can afford them and if they like it they keep at it..Two you jump in the game and try to make money transactionally IE RE Broker  Flipper Wholesaler MLO  leasing agent etc etc.. this also is a long term ramp.. what the Guru programs attract generally speaking is those that get excited think they can somehow buy a program ( any program pick one) and its going to jump start them to this mythical financial freedom everyone talks about..

I'm born and raised in Houston and now work with a full service long-term rental management managing over 300 doors - all SF or MU (up to 4 unit).

--------------------------------------Context:-My wife and I file taxes jointly and own 4 long term rentals in NJ and 3 rentals in FL (1 long term, 2 short/medium term).