@Derek Heinz you might be better off finding a major fixer-upper, getting a hard money loan (HML) to acquire it. 

If you are very conservative purchase a fixer upper so you can force equity and hopefully have a low enough payment so that you can LTR the property or even sell for profit should the STR avenue not work. 

I'd do your own leg work on vacancy rates and turnover costs. 

What is your price point for the 2-4 MF properties and are you looking for turn-key properties or something along the lines of a "fixer upper"?

That being said, I do think it has a lot of legs. 

Do you want to purchase "turn-key" properties or "fixer uppers"?

Returns are great if you get a good area and build a solid team but thats going to take some leg work in picking the right people that see's your vision. 

Currently I think 200k being the upper limit of investment makes the most sense and is within my risk tolerance range.

A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources.

A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources.