- we are aware of the statutory requirements, just deciding whether the tax benefits would be worth it to us for the long term for a specific property - 

It appears there are still opportunities to buy good properties in decent areas, though I’m sure it’s important to be very specific about locations.

We liked the idea of partnership on a bigger project with the specific MTR strategy in order to increase NOI and exit in 3-5 years.

Wanted to get some thoughts from more seasoned small multifamily investors on a few items or any other suggestions:- Any specific pros/cons of any particular states in SE (TN, AL, GA, NC, SC) to consider?

Are there specific tools, presentations, or approaches that help them feel more confident in taking that first step?

A rider allowing for using your owner-occupied property as a short-term rental for a specific/limited amount of time is very different than an investment property being used as a short or long term rental 100% of the time.Also, telling your home insurance company that you STR your home occasionally does not give you extra coverage for those types of risks, it simply means if your renter burns your home down the insurance company isn't going to immediately deny your claim. 

Specifically single-family/multi-family property investment and the BRRRR strategy.

Do you include specific clauses in each of your subject to deals spelling out exactly how insurance on the property will be handled?

The reason I ask is if you're starting a "non-real estate" business, I'd recommend NOT using that business to buy any properties but use a real estate specific LLC to acquire your properties.

This normally would not be an issue but the cost of the water/sewer is extremely high in this area and specifically because the meter is a one inch, the costs are much higher than a normal 3/4 inch on a non-duplex.