In DC, multis are very expensive and its very competitive.

It's a nonconforming loan program with competitive rates.

This again doesn't add competition to the affordable rental space, multi family complexes, 1-4 units etc.

Financials projections weren't that good but decided to build anyway to keep competition at bay.Worst financial decisions this year were:  A. 

Sometimes there is only so much you can do to the property to add so as a secondary acquisition goal we'll acquire locations that are key long term locations in strong markets that will have a competitive advantage in different market cycles even if the advantage isnt "pronounced," right at this moment (beach,lifestyle, transportation, education, path of progress, city initiatives for development, and etc areas).The active business, in your case (real estate agent) or lending can fund the investing into the future while you work on freeing yourself.The highest expense most people have is their housing expense so it makes sense to house hack early on in the game for many who have W2 jobs or are sole practitioners/gig workers.

Many people are also being laid off creating hyper competition for those positions.  

They're inexpensive, there's less competition for them, there's strong demand for them as LTRs because there isn't as much supply, lower repair/rehab costs, and there's typically less wear and tear because you don't have as many folks applying with multiple kids, pets, etc.

Yet it still seems over-saturated with tons of competition. 

After a mortgage, large HOA fees and expenses you'll likely have a great deal of expenses.Then look at the competition and what rates they are getting along with how full their calendar is.I stayed at a condo in Myrtle Beach that I rented on VRBO and was amazed by how cheap I could rent a Condo.

I have had clients do the homestyle renovation loan it can be a good option and is less stringent then 203k.One thing to note is most people doing basic rehabs do not pull permits here so your competition is able to do the rehab at a much lower basis then you are using homestyle.