I hate to say it but this is a much tougher environment now than in 2012 for newbies.  

One of the guests on a podcast said that his goal was to have $2MM in DEBT We are in such a low interest rate environment, where money is cheap.

It doesn't really work that way with MFH and definitely not in the current environment.

It was the perfect environment to grow my network and business.

That's not my market, but it seems like excellent news to me - regulations like that encourage responsible ownership/management without severely handicapping the industry, and in my opinion creates a safer environment in which to operate a business without fearing that super-strict regulations could swoop in at any moment.  

@Ryan Enk In an environment like yours, it's a good thing you run them on leases.

Our LTV is less than 50% ( yes no risk at all for the bank, and we have top credit score.We already paid the appraisal, environment fee, wasted countless hours etc...The texts in LOI: Financial covenants:-- Min DCR based on actual rents for the first trust deed of 1.25:1.00 based on a 25 year amortization by the end of 2018.And in the loan doc---Property is to maintain a 1.25:1.00 Debt Service Coverage Ratio, tested annually.We would not have paid the fee and sign the LOI, had he included the phrase tested annually.Please understand that the loan  will be for 10 years long, and we are very confident that we will always have fund for the monthly mortgage payment.

Regrettably with evictions taking 4-6 months in a extremely pro tenant environment where even the most obvious case is at best a 50/50 chance of eviction we have few options.

Are there other tax benefits associated with owning rental property that would apply under the current tax environment?

Are there other tax benefits associated with owning rental property that would apply under the current tax environment?