Just a heads up.So you calculated out you need  $6 million worth of apartments to hit your goal.A commercial loan may require 20% to 30% down in cash, cash reserves, working capital, and closing costs.You will also need earnest money cash.The lender may also require certain repairs to be done Shortly after the loan is made.The lender may also require the Property to be stabilized as far as occupancy percentage is concerned, leaving little on the bone as far as sweat equity.Good Luck!

Rent is 2150 against a 1450 mortgage leaving me with 700 monthly revenue.20% of 700 goes to reserves which leaves 560 monthly net. 560 x 12 months = 6720.

but yes a house hack allows you to put down as low as 5% just make sure you have some reserves incase something goes haywire the first year 

I currently utilize this strategy personally.I have a commercial line of credit that I practice pay check parking with.Pay check parking is the practice of parking all free cash flow that you bring in each month after you've set aside your cash reserves (emergency fund).

I've talked with auction.com and another company about rediculous reserve prices on some properties.

@Diana JingHere is a list of lenders offering non-recourse loans to retirement accounts:https://www.biggerpockets.com/member-blogs/2810/50272-list-of-non-recourse-lenders-for-self-directged-ira-and-401kTypically non-recourse loans require 30%+ down plus 10%+ reserves because the risk is higher for the lender. 

The loan application will ask about the assets you need for the purchase (down payment, closing costs, and reserves), and you will need documentation for those accounts (most recent statements). 

Partner Driven financed this deal using our established capital reserves, allowing us to close quickly and efficiently.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

I hope it wasn't an Airbnb reservation, if so you would be looking at a hefty refund for missing amenity :(