Growing populations typically demand more housing, which can drive up property values and rental rates.

It is very hard to do an FHA 3 & 4 unit currently because it has to pass the self sufficiency test and with where rates are at it is unlikely to pass.

Should I be a private lender since rates are so high?

I have a property manager actually do the showings, but any issues like plumber , electrical is a phone call away.The only challenge is it's a commercial loan, which requires more down, higher rates and shorter terms. 

@Steve Boss,  Here's a BP blog we wrote recently on costs nationwide - https://www.biggerpockets.com/blog/how-much-does-a-1031-exchange-cost.Just because an exchange is cheap doesn't make it bad. 

So they will gradually be brought up to the qualifying rate. 

Properties equipped with the latest technologies and sustainable features often command higher prices and rents, enjoy lower vacancy rates, and have reduced operating costs.

We all understand you want to save on fees and have the lowest rate.

If so you definitely  need one.If you or most all of your competition doesn't have one then it's not necessary but it may help set you apart from the competition if you need to increase your occupancy or nightly rate.

The only con is the higher interest rate.