Hello everyone,  planning on house hacking a first time home purchase w/STR- any general consensus on how competitive/oversaturated the market is particularly in the loop? Thanks in advance! 

You could use those funds to pickup 2-3 duplexes on a traditional mortgage though.For more info on the climate of the Cleveland market I suggest reading The Ultimate Guide to Grading Cleveland Neighborhoods.

Your beliefs on CO2 and climate change though are infantile.

In this climate with no expertise most banks will be hesitant to make them a loan or even in great times.  

The 1st quarter of this year tech companies where forced to reevaluate their businesses either do to a shortage of new investor dollars flowing into companies or as a result of pure survival until the climate of tech investment changes.The Bay area and Silicon Valley have seen their worlds begin to change since the beginning of the 4th quarter 2015.

Chances of a deal coming to market, in any form is slim in the current climate. 

There is nothing on the radar that could reduce Milwaukee prices in a meaningful way; and we are still about a third below the national avergae, have a chrinic housing shortage, plenty of fresh water and are in a climate safe zone - all factors that will continue to increase demand eyond of where it already is, while we have no meangingful increase in supply and new construction is  limited to small numbers and only luxury homes over 600k.

One of my partners is concerned that with the current economic climate the rates may go up to 11, 12, or 13 percent (or more...) which would cut heavily into cashflow and severely diminish our returns.

I know turnkey is not the preferred method of investing since you are tying your money up, but for the sake of getting into something (that allegedly cash flows), is this a route a newbie in this climate should consider?

Everybody out there were either stripping the suits off all the way or part way after about 30 minutes in that climate.