The only down side of the area is that all types of properties are more expensive.

Unfortunately that is the downside of living in our Great state.  

The downside, I had to stay in the property for at least a year with this newly refinanced conventional loan.

You can't even add a contact to a direct mail campaign with 1 click.This is a huge downside to what would otherwise be a useful system.

Additionally, are there any potential downsides or considerations I should be aware of when opting for a DSCR loan for new construction in the Charleston, SC area?

No downside to sending a letter but not worth paying an attorney here based on what you shared. 

Is it a good idea to get into foreclosure investing as a beginner. what is the downside of it that I need to be careful of or stay away from?

Easy for me to pass - just rehabbed it.Except for the fact that they are slow to process things (which has been a little maddening), I cannot find a downside to this where there is anymore risk to me than I normally encounter with my rentals.

You really can't go wrong selling the vehicles to downside into something less expensive.  

It looks to be far more fee-efficient.You're going to get people telling you that UBIT is a major downside.