I want to build my wealth, gain experience, help people along the way and then maybe help people in foreclosures or something.

Many banks wont touch deals that are sub 90% occupancy, so you could negotiate short term seller financing to help give you runway to make the building bankable for a refinance while you reposition it.

If you decide to revisit STRs, you might want to explore properties where you can project expenses independently, such as using local STR forums or online tools to estimate maintenance, management, and occupancy costs.For networking and strategy-building, you might find local meetups or groups beneficial.

Regardless of the type of lender you work with, building a trusting relationship is crucial.

Quote from @Sam Brock: I'm a contractor and currently building two houses on two lots that I own outright.

That's our cap.The only time we have seen an electric bill higher is when contractors were in there working and using a ton of electricity for industrial heaters for a month.  

So, an 8 unit building with all 1 bed/1 bath could be 1/2 LT tenants and 1/2 MTR for travel nurses.

It might be worth it to try to source a property that's off market or via a wholesaler that needs rehab so you can build in equity.

However, exploring out of state markets could offer stronger cash flow upfront, so it’s worth evaluating both paths.A piece of advice would be to focus on building your core 4  team: agent, lender, contractor, and property manager.

You can even learn a lot from leads that don't book with you, if you build report and ask the prospect worthwhile questions.