The investor can also oversee management the first year of operation.Sure - STR arbitrage an incredibly narrow scoped business.

While these are a great revolutionary option – typically Multifamily DSCR Loans are only available for this narrow band of unit-count, generally 5 to 10 units, or sometimes 5-8.

Or what about the syndicator who did purchase the multi-family building in your narrow investment thesis  and did bet wrong on rates but a major employer just announced significant relocation to the municipality where the apartment building is located or a restrictive zoning overlay was just enacted making it difficult to add new density or maybe its the new commercial development just anounced that is anchored by a wholefoods and exciting nightlife exeriences a block away. 

I have guests literally from everywhere and have a hard time narrowing down the markets I should target.

But it could help you narrow down where to look in PA.Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

If I can figure out roughly what I can get for it in something more than a 50k spread that I have narrowed it down to at the point of writing this. 

Once you figure out the answers to these two questions, you can start to narrow down what markets make sense for you based on the FRED economic data: https://fred.stlouisfed.org/

Since MFHs are primarily targeted towards investors, this narrows down the potential pool of buyers.

For us residential, it's the traditional lender that feels the pain.However as OP is thinking correctly, the gap or spread between riskless CD and equity investment is narrowing, maybe it's like 3% only at max.However, just think about if , if public interval debt fund like NICHX or Cliffwater can give me 8% why I do need to invest at multifamily equity. 

While these are a great revolutionary option – typically Multifamily DSCR Loans are only available for this narrow band of unit-count, generally 5 to 10 units, or sometimes 5-8.