DSCR loans are not that low and regular hard money loans will be in the double digits.

Many other investors have asked themselves (and others this question) but what I believe it ultimately comes down to is what are your goals (how much money you'd like to make), are you physically able to manage it yourself and do you have the right organization and systems in place to do it on your own. 

We have been able to save up some money for our first turnkey multiple unit building.

@Christina Galdieri Sorry, the actual location doesn't matter.

Compare my bottom line to those who claim it's fine to invest where you get a $100 a month cash flow and sometimes actually even get rent. ;-) IMHO Thank you so much for your insight.

Unless you're working with Private Money that is going to carry the risk of your lack of experience, banks want to see experience, Net Worth and liquidity after close to consider the terms.I started with single family, four plexes, and remodel flips for a lot of years before getting into larger deals. 

Another key change is making sure your contractor actually sticks to completion deadlines...why, because of how extremely tedious permit inspectors are getting in some cities, which can slow progress in and of itself.

We are considering stepping in and trying to buy the place, but looking for some guidance on STR and what kind of money this place can bring in. 

I wanted a house for myself to live in and I had been living with parents for two years to save money.

My advice would be, if you truly want to learn the business, lease it up, refinance, pull some money out, and go on to the next one.