First get a job.Save enough for 3.5% down for FHA mortgage and buy a 2-4 family property.You can live in one unit and rent out the rest.

It’s looking like this will cash flow neg just with est mortgage payments plus insurance and taxes of $1100ish (after renovation), property management of $120.

I do mean 'Millionaire' not multifamily, but wish that one existed!

So in your example, buying a trackhoe might grow your business or create greater profit by eliminating some outside costs, or letting you take on bigger projects, or speeding up existing projects, etc (just an example).

Outside of real estate, I enjoy my kids, travel, exercise, wellness and I am also a former Financial Planner turned Mortgage Lender. 

The market is priced too high to buy existing locations in my mind.  

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I am debating about the converting the existing old gutted building to either multifamily building (6 units each around 500 sqft small studio) or mix of 4 residential and 2 retail/restaurant conversion (the back side of the property has Big enough lot for outdoor dining or any other use cases.Any recommendations for use case of pure multifamily or mixed of multi family and retail?

Tertiary markets can be cash flow heavy but tenant/asset risk exists.

Use less of that and either get the seller to buy down your interest rate or you can do it and have a comfortable mortgage payment and still plenty left for your emergency fund.