It normally takes 5+ years of rent increases before you feel like you are doing ok. 

We wouldn’t want to resell within a year for the reason you mentioned, but we’re starting to think it’s a smarter strategy to buy and quickly fix up a duplex or more to first get our foot in the door.

Should anything happen down the road, you don't want them telling you that normal homeowners insurance doesn't cover STR.

I am just beginning to get my footing. 

Most of the private lenders we deal with don’t require appraisals, never set foot on any of the properties they finance for us and, best of all, often finance 100% of the purchase price and renovations.

.)- All in Cost = Cost to build * Square foot  - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost   accounts for agent fees and closing cost- Initial List Price = Sales price + 10%      A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.

I normally have one piece of advice for people just getting started, do not take on too much risk.  

The DST is losing $ due to upkeep costs (foundation, HVAC, normal repairs, etc.).

The ability to find a good sales price under $200K with low taxes and affordable insurance is getting harder to find but in Oh & IN its still easy.Inventory is strong and the rents are above normal so even though your under $200K you can still earn a good profit.

Multi-family properties many times provide a better return per square foot than single family, which would be to your advantage as well.As long as you're mindful of the reinvestment requirements and purchase at least as much as you sold and use all of the proceeds, you shouldn't have any issues with this strategy.