The same concept is used if you buy 2-4 units.

@alanasriants I personally think the concepts I discussed are universal and this is just not a good deal.

I've been a real estate investor (multifamily, land, CRE) for 2 decades but have been working on a concept to purchase multiple properties in the US and around the world.

Quote from @Edward Messer: I have a verbal quote for 14% of monthly rents for 3rd party property management. 

Since each lender will lend it's money slightly differently it's hard to speak for all 8,000 lenders in the US but the concept here is that it's more flexible but you pay for it in the rate/terms of the loan.Hope all of that makes sense.

Four month later, I began to employ some concepts I heard. 2 years later, we are at roughly 50 units.

.- Real Estate Rookie - it's designed for people just like you who are getting started and seeking to understand terms, concepts, and processes...it's like a crash course to build knowledge in real estate- Bigger Pockets Podcast - this was their first podcast and it contains invaluable examples of other investors, situations they've encountered, and how they got to where they are today.

IRR isn't an appreciation calculation, just a manipulation of the time value of money concept [ FV=pv*(1+r)^n ], that has the user to plot out their future cash flows to get a better understanding of what their cumulative returns will look like, taking into account CF, amortization, appreciation, and tax savings and not just CF.

The concept is the same. 

You must be able to understand that concept and managing a balance sheet, a P&L and cashflow.