If prices are too high people will just go elsewhere.

DSCR loans go up to 80% of the purchase price and depending on the Debt Service Coverage Ratio and your credit score you can expect rates on a 30 yr loan ranging from High 6%- Mid 8%. 

I'm just getting my hands on real estate investing, I know it's not a good time with high interest rates 🤦🏻‍♀️but I'm looking to get something by this year.

Strong rental markets with low vacancy rates are ideal for long-term holds, while areas with high ARV growth are great for flips.

It's probably going to mean paying points at closing, a high rate, and a serious pre-payment penalty (like 5 years). 

I use standard market PM rates in my underwriting, but I also would not work for those rates but it is fair compensation for the work.I typically use vacancy of 5% not because I have ever had a unit that had that high vacancy but I do not have a no payment category and I want the underwriting to be conservativeon the opposite, your rate is a bit high and your appreciation rate and rent growth are modest.overall, seems like a decent attempt at an analysis.  

there is tremendous demand for inventory right now, and as you have already found high prices and high rates have hurt cash flow. 

Prices in relation to rent are too high to have the cushion that was available before. 

Much better as a short term acquisition strategy for flips IMO but always a high-risk strategy that should not be practiced by anyone who doesn't have the liquid capital to pay off the loan if needed.

I think the key to getting a good start in REI is finding a way to have a high 9 to 5 income and using a good portion of it  invest in your real estate endeavors.