I would most likely never invest in a syndication, but it seems like this would be a great opportunity to "buy low" based on all of the failed ones I'm seeing. 

My first fear for you is that you don't really know much based on your questions and you might need longer to learn it than just trying to get and fund this deal. 22 units, with only 2 multis as experience, makes it harder to find stranger money, but more probably to find friend or family money if that makes sense.

Next is to start building a strong network of local contractors, property managers, agents, lenders, and attorneys—they’re key to keeping things moving smoothly.

Quote from @Jay Martin: Has anyone heard of or used Bluebird lending they have dscr loans, etc. opened in 2018 in Philly, lend in a bunch of states, but hard to find info on them. have not heard of them but based on the website appear legit.

We are real estate rookies based in the beautiful Seacoast area of New Hampshire.

Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)

If there is a strong need for solid PMs then you could very well be the #1 PM company in a few years with a strong reputation. 

Feel free to adjust the numbers based on your expectations for capex or vacancy rates.

I have started small and out of state where I am entrusting people based on referrals.

Depending on how much you'll like to contribute to this retirement account keep in mind the self employment taxes you may need to pay of 15.3% and age if contributing to a traditional not roth type retirement account.I agree with the above based on your answer you most likely won't have issues in FL.