Other than lowering my DTI ratio (which is what I'm focusing on now), is there another way to realize that equity or am I stuck with dead equity until I can get that ratio to a better space?

This is one of the BIGGEST reasons people fail in this space. 

Dee - As a newer investor, some of the options using "Agency Debt" (aka Fannie and Freddie financing) may not be available to you as they require 2+ years experience in multifamily space.

I believe this social media post summarizes most who entered the multi-family space as syndicators in recent years. 

But just be aware you will be sharing a space with someone and not being home all the time to monitor the house opens yourself up to potential risks and liabilities.Another option to get into real estate is to consider passive real estate investments.

Look also at land banking some of these lots, if you want to build 3 homes, located them close to each other that may leave some space for future expansion if the first round is successful.   

Amazon FBA in the automotive space.

I know the whole mentoring space is full of charlatans and "those who can't, teach," but I've done my due diligence and this outfit has legitimate results, so I'm comfortable moving ahead.What I'm struggling with is if I actually want to own or be responsible for a large apartment complex.

The city plans to also create a "downtown" space just south of there within the next 10+ years.

Would you be able to price low enough to the point where those people would choose yours over maybe a one bedroom with more space, or even two bedroom property?