Best use of $3M in starting capital

[Lucas Bonasio]

A family member has decided to sell his business overseas and invest all his capital in real estate in the US. He is bringing $3M with him.

He would like to buy properties cash and rent them out. Each property he wants to buy would cost about $140K and will give him $850 NET cash flow per month.

In an effort to get the most "bang for the buck" I would suggest him to, instead of paying cash for, let's say, 20 houses, put a 25% down payment and finance the remaining, allowing those same $3M to get him about 85 of those $140K properties, which would now generate a $350 positive cash flow (after servicing the mortgages).

The only question here is........

Is getting 85 mortgages something even remotely possible to achieve? How would you guys go about using those $3M in 70% LTV real estate deals?