Good afternoon all, I closed on a 4 unit back in Sep with Constructive, so far, so good, but yes, I have heard of faster turnaround times on the draw request.

It could be worth considering a shot at an actual software solution built for DIY landlords (1 - 15 units); one that helps you to automate your own rental process (ie. compared to other tools, one that helps you to actually get it listed on 10+ major listing sites, allows you to schedule showings, provides you with super thorough tenant screening options, online digital leases which can be customized and help you by breaking out those fees, automated maintenance tracking, and fast rent collection which also offers your tenants the ability to report their positive on-time payments to the major credit bureaus; just another positive reinforcement/added incentive to get them to make those payments on time).

Buying units where I am is often owned by older landlords that have left the rent very low.

You are correct that prices are high, it's also good to know that 2-4 unit properties are extremely popular at the moment.

I love self storage.

Most of the PM listed on Biggerpockets are for LTR since the site promotes self-managing STR.

Investment Info:Small multi-family (2-4 units) buy & hold investment in Springfield.

Should I be trying to buy a 3 or 4 plex to start or would utilizing a good chunk of equity and looking for a much larger investment like a 15+ unit be better?

We self-manage 37 units with it.  

For the arbitrage part, I would check with the owner of the unit, and see if they will allow you to arbitrage the unit instead of LTR occupying it.