The way to ensure you're getting the highest ROI and that this return is sustainable year after year is by finding great people in the area and developing those relationships.

What resource do I use to find out if my area will sustain a new/converted 3 or 4 plex?

@Kristopher Kelly Replacing these systems is considered capital expense and can't be written off in the same manner as maintenance/repairs.

So, in addition to the sustained supply shortage, the potential decline in demand seems likely to remain muted compared to prior downturns. 

Investors will hold on to that real estate professional that is able to execute in a timely manner while being able to judge and filter through properties and neighborhoods that will fit the investor profile. 

Some clarification on some other comments:FHA (which for most people provides the highest LTV option) will finance up to 4 units, but triplex and quad must be self sustaining.  

We want to invest in a waterfront property in Crystal River/Homosassa, FL area as a STR but now with interest rates, it's not panning out and making it impossible to purchase something sustainable as I'm not confident the rent will cover the mortgage, taxes and insurance, let alone the utilities.

@Sarah MoncivaizYou likely don’t have a law about removing tenants in this manner.

Currently multifamily is still a very powerful and sustainable investment.

That is no way to start a business, much less a self-sustaining, long term business.