Is there harm in multiple loans if they are for cashflowing prop?

[Cameron Philgreen]

My wife and I are relatively new to the investing game. We have no debt except the 2 houses we own ($240,000 total mortgage debt). One property cashflows $550 / mo and the other is our primary residence / airbnb and cashflows about $400 /mo.  Our goal over the next couple years is to have 10+ more doors.

My question: How many loans can we possibly get?

What are banks looking at?  We make a fair amount of money (about $80k after taxes/expenses), but in my opinion not enough to justify potentially being $1,500,000 in debt in the next couple years.

So, as we venture into the world of rental properties more and more, can we expect to just be approved for a loan every time as long as the property will cashflow?  Or is there a line where they say, "stop, that's too much debt compared to your income."

Lenders and others, what say ye?  Tell me the smartest and most effective way to get OPM!

[Tom S.]

@Cameron Philgreen  All depends on lenders and their requirements.  When I started off I had good W2 income and good credit, and bought 5 places in a row for about $1.2M in mortgage debt before they started saying no.  Then I sold some stuff, used owner financing for a few deals, and eventually worked with portfolio lenders (small local banks that hold the loan in house and have their own guidelines).

Depends a lot of cash reserves too, in addition to good credit and income.

- Tom