I am looking to implement a buy and hold strategy for 2-4 unit multifamily properties since I am looking for an ideal balance between positive cash flow and appreciation potential.

Below is what you need to know that underwriting and programs guidelines don't tell you when considering a 223(f) apartment loan.AdvantagesHighest LTV in the marketEliminate refinance and interest rate risk with fixed rate terms up to 35 yearsLow fixed rates based on GNMA securitiesNon-recourse and assumable - makes for a great exit strategy especially in a rising rate environmentNo defined financial capacity requirementsNo geographic restrictionsNo minimum population requirementsSupplemental financing availableDisadvantagesLonger processing times - 120 days at a minimum (6-9 months is typical)Higher fees - HUD and FHA fees add to the overall cost of the loanMortgage Insurance Premiums (MIP) - Initial and annual premiumsAnnual audited operating statements requiredReplacement reserve escrows requiredHUD property inspections requiredOwner distribution restrictions and Cash out restrictions 2x a yearProperty condition is important to HUD, both during initial underwriting and over the life of the loan.

To use the BRRRR  strategy means you want to get all or most of your Cash out using a Refinance loan.  

What is your exit strategy plan on this property?  

If your property manager is CRUSHING the things listed above, then they have the right to look at a pricing strategy.  

These realtors don't understand the many different exit strategies in real estate investing and that these exclusive rep agreements prevent them.

We have been finding our own deals and calling etc so I think we will be changing our strategy to make sure we aren't overpaying for our realtor fees.

The plan is buy and hold and to re-invest all earnings to buy bigger and more properties. 1031 and cash out refi are two strategies I plan to employ, but I'm not sure how using an SDIRA would change that... if at all.

Before, choosing a strategy, one of the best things you can do is to ask yourself who do you want to serve? 

buy and hold strategy would be great here.