we are building a building just like this in Columbus Ohio except vertical. we added kitchens and all studios and common commercial and mixed it in. multifamily is much easier to finance. we got a similar valuation. we don't have to buy 1 million dollars worth of furniture either. apartment hotels are what some people call them but we are underwriting affordable housing. we copied the hotel development rezoning applications in our market but went for multifamily and I had it underwritten at 15 million and we just had the number one debt placement broker look at it and appraise it for 20 million because they added a tax abatement. hotel development works because of the nightly rate and higher occupancy and no kitchens in every unit.

You can charge up to but not more than what the local power company rate is in your area.

You will get a low response rate like less than 1% but even a half percent gets you 15 phone calls and one of those can be a good deal.

You could start BRRRRing houses and maybe that would allow you to buy more and make more cash flow.As for the paying off the mortgages, I would make you minimum payments monthly and when rates go down in years, you could refinance but pay the same amount and that will help you to pay it off sooner while you are left in the same Cash flow position. 

While I finish school I want to work, at some level, for a brokerage and continue to build the savings and connections needed to start investing in my own properties / making a career in real estate.

For the universities and schools in the area as well the research triangle area for Apple's first East Coast campus.2.

Perhaps a fix and flip due to the higher rate?

My strategy is to buy and hold these properties, unfortunately I bought this one in January when rates were high.

That creates a great opportunity to get seller financing on your first deal which is especially important now with rates where they are. 

Explain that as if I’m in elementary school lol :)