For the property rented in October, utilities and interest before October are capitalized, while expenses after that date are deductible as rental expenses.For the vacant property, all utilities and interest remain capitalized until it is placed in service (February 2025).

I price higher far out and bring my prices closer to market as dates get closer.  

All running properties are illegal or running with expired license which is ridiculous since there are so many running STRs there.

That will not get you to 100k as at best you could go DSCR and get 80% (if numbers even work).Regarding property not complete, if you have paid cash to date, your best bet would be to get a hard money loan for $100k to complete the renovations and pay off some debt and then refinance once its completed.

I am currently under contract for a property, and my inspection period has just expired.

The original closing date was in Oct 2022.  

Even if you manage to find an office with an existing tenant, their lease could be approaching expiration, and without plans to renew, it can take an incredibly long time to secure a new tenant for the space.

Rents are just being postponed to a later due date.

My research to date is leaning towards 2 - 4 MF along the lines of a "fixer upper". 

Purchase price: $140,000 Cash invested: $22,000 Sale price: $180,000 Moratorium expired a few months before closing and I inherited 2 tenants couldn’t get into the property for 3 months!