Also factor in your capital, time, energy, skills, and other resources.

Especially since you don't live in SD anymore.Lastly, multi family units and apartment complexes simply offer greater economies of scale for maintenance and other expenses because it's more "doors" under one roof.

Some lenders will offer a blend of the two with something like a 14 year term.If a lender asks for more, they're imposing additional restrictions over and above what SBA requires.  

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

So here it is: Asking price: $70,000What I intend to offer (if I offer): $45,000.

We've gone back and forth on offering a unit or two as fully furnished mid-term rentals but are on the fence. 

I'm also contemplating offering a 20-month lease, though I worry it might seem daunting to the tenant.

Hey Kailey,I have several banks I work with that offer a ton of DSCR products in both states.

If so, what resources & tools do you use? 

Building is a lengthy process that requires coordinating multiple aspects, which can be time-consuming.On the other hand, buying an existing property is generally cheaper upfront and offers the advantage of immediate availability, so you can move in or rent out quickly.