Comps were used that were from 2021 when prices were considerably lower in my area and the income/expense information I provided was not correctly used making it look like the income was 1/6 less than what it is.

I am sure there are other considerations, but these are the questions that first came to me at seeing your question. 

The location was important for my consideration.

Given your circumstances, the following advice and considerations apply:Benefit from low interest rates, no down payment required in most situations, and financing for up to four units when you take advantage of the VA loan.A thorough grasp of your budget should include the purchase price of the property as well as any possible maintenance expenses and other related expenses.

However, multifamily properties may offer more considerable long-term rewards if you're ready to take on the challenges of maintaining numerous units and are interested in gradually creating a larger revenue stream.The optimal decision ultimately comes down to your own investment objectives, risk tolerance, managerial skills, and the particular market dynamics of the regions you're thinking about.

@Mike BossThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

Budget may go over considerably...don't know yet.

Up-and-coming areas: Consider areas like Heights, Fifth Ward, or Third Ward, which offer potential for growth and affordability while still attracting visitors.

Aside from mortgage and tax filing implications, what other considerations should I be thinking of?

The location was important for my consideration.