Hey @John FriendasI have purchased 4 of my Co-Living (rent by room) properties with DSCR, 1 of them within the last few months.Not that I necessarily recommend this, but there are short-term-rental DSCR products.

I'd highly recommend attending some local reia meetings.

If so, I always recommend getting the study done prior to rehabbing.

I always recommend checking out reviews as well. 

On the other hand, tenants tend to cause damages when moving these appliances in/out, so having them in place may be safer.I recommend you look at what others are doing in your community and price point.

My wife and I have overhauled our personal budget to reflect the 'pay yourself first' approach (allocate in order: income comes in -> invest -> donate -> fixed expenses -> variable expenses -> fun $$).We are looking to see what experienced people generally recommend for a holding tank for that 'invest' allocation while we target our first real estate deal.What financial vehicles have you guys used that works well for this?

If you're looking to invest out of state, I'd recommend listening to episode 1049 of the BiggerPockets Real Estate Podcast. 

Are there any resources available and recommended that would be better suited for creating a pro forma for new (spec) construction?

Quote from @John Fleming: I don't have any personal recommendations, but something below may help you in the search.Start by going to www.narpm.org to search their directory of managers.

Hello Michael,I echo Jon, completing a 1031 of a single rental into DSTs in straightforward however we typically recommend a portfolio of DSTs for diversification and financial objective purposes.