Both cities get so much negativity, you can even see it on here, so I'm happy anytime either city has some success.  

Many others have enjoyed similar success there as well. 

In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

I’m fascinated by the potential of real estate as a way to build wealth and gain practical skills, but I’m just starting out and looking for guidance.If you’re experienced in the field, I’d love any advice you’re willing to share about getting started, especially if you’ve found success as a beginner.

If that's the case, you'll want to start with a fix and flip (or hold) type of loan, complete your renovations, get it rented out and THEN refinance into a DSCR loan for a long term hold. 

@Lauren Merendino you've got a lot of work to do to figure this all out and do it successfully:)Hopefully, the copy & paste info below will be helpful in this journey.

Data point: we have a long-term rental in a popular STR neighborhood listed through Zillow right now.Every person who writes asking to do some sort of arbitrage is blocked by the Zillow platform.I don't even have to say "no thank you anymore."  

For example: We provide tax preparation and advisory services to people who invest in commercial (including multifamily) real estate, and high w2 earners investing in short-term rentals.

Many investors have used this strategy successfully, whether by renting out extra rooms, a basement unit, or a duplex/triplex.

Love your story and wish you lots of success.