My original plan was to find a 4 plex in california buy using fha loan, move out after the first year and generate cash flow and appreciation, but after looking at properties it became clear to me that’s not possible with todays market and interest rates.

Rate shop .

What you also not considering is the D.C. area absorption rates. 

.: The fees are about market rate for PM companies although the repair is a little high imo - the issue sounds like they procured a bad tenant.

But it is constant rate oversite... 

Although both get the buyer an incredible rate.

What this usually leads to is higher rates and lots of points, which increase the amount of cash needed up front.

Connect with lenders and brokers, see what rates are out there, underwrite the deal and see if it makes sense after debt service. 

Proximity to Nashville is key—properties within 5-15 minutes of the city tend to attract more guests, but a nicer home 20-30 minutes away could provide more value in the long run.Make sure to research short-term rental rates in both areas to determine which offers the best return.

Lucy: your story shows that setting up a loan is more than just interest rate and other terms.