Lots of syndicators got into the business in 2018 and 2019 and simply got lucky when cap rates dropped from 7% to 4%. 

You will more than likely get a higher rate then what you have now but its a simple short term loan that you can refinance in 12 months to lower the rate when rate drop next year (which they will).Use the cash for the DP but I would also advise taking out just a little more as a "What if factor" to cover any unforeseen issues or last minute repairs.

After that I look at crime rate for the area.

The other thing to consider is that the interest rates will be higher when using dscr and in most cases a minimum of 20% down.

I would like dabble in Texas, but the high property taxes along with high mortgage rate make it difficult at the moment. 

There was a boom towards the later part and after the pandemic as far as number of listings, average daily rate, and occupancy rate.

6 - What are your vacancy rates and eviction rates?

As people mentioned, the homeowner exemption is only if it is your primary residence, but it is a reduction to the taxes that you may not get and there is not an increased rate for you being out of state.

What can I do to find more small multifamily properties or will more properties become available as rates drop and more people are looking to sell their properties?

Better rate and usually no points.Bunch of factors to consider honestly.