As you mentioned you'd be financing your property with debt, so it's very important to have a clear exit strategy.

Why does that preclude them from owner financing?  

I have used most of my traditional financing cap with earlier purchases so now I'm using creative financing like seller financing and sub-to purchases to keep growing my portfolio.I'm currently focusing in Tennessee on homes under $500,000.

One thing to consider is owner finance if you can. 

Get creative, ask for a lot of Seller financing deals, etc.

Looking to see if anyone here teaches any courses or knows of anything to learn creative financing.

Moreover, I am interested in understanding the feasibility of securing financing from lenders for such a project.I am eager to hear from experienced investors in the community regarding the pros and cons of building versus buying fourplex properties.

Third, figure out how much you can afford and what your financing choices are.

Typically the ROI is lower and financing options are much more limited.

But that is where groups like Adventures in CRE or a finance grad student come into play.