Trying to stay as affordable as we can ideally. 

Ideally, this would be just one step in a larger plan to grow into multiple rental units over time.

I'm interested in flipping, and short-term rentals at the moment to build good cash flow, then pivot into more of a buy-and-hold/appreciation play 10-15 years from now.

Something I would recommend from experience working with people is to figure out your ideal niche and stick to that, at least just starting out.

.- Short-Term Rentals in Non-Traditional Markets: Secondary markets like Florence, Alabama, are ideal for short-term rentals.

Play the long game and hold onto that equity. 

I tell everyone this, New York is one of the hidden gems of investing if you know how to play the New York game.

Ideally was thinking a duplex, triplex, or quadplex to get started and use an FHA loan but I also have a private lender that can possibly help with up to $200k worth of a down payment.

Loans like this can be useful or very dangerous, depending on how you manage your business.The ideal situation for a loan like this is when you have a property that will take a while to get up and running. 

A 4-plex would be ideal and you could play around with doing 1 long-term, 1 mid-term, and 1 short-term, plus you, if it works on your area to upgrade your income.