Keep contacting different lenders and you may be pleasantly surprised at the lenders responses once you provide the information their requesting.

I'll probably do a lot of street view driving anyway just to become more intimately familiar with neighborhoods; as a remote investor, it's a big help when I can't drive through town myself on a regular basis.Re: Credibility, agreed.

I've got access to good title search tools and data due to my business associations in commercial real estate appraisal, so it sounds like I just need to put in a little more legwork and familiarize myself more intimately with building codes and structural red flags and bid more aggressively on these properties.Thanks again, invaluable input from all! 

For my first rental purchase I didn't know about the seasoning requirement and right when we were about to close they told me I was short on seasoned funds... the only way I could rectify that in time to close was to use the rollover provision for my Roth IRA. 

Banks will start with smaller amounts based on your personal credit profile (and will make you sign a personal guaranty).While you want to get to 500 units - at that point in time you would be better off owning apartment building(s).

However, if you buy a primary residence, live in it for 2 years and then convert it to investment you can then sell it within the next three years and take both the 121 exemption and 1031 the remainder because you are selling an investment property and you can still document that you have lived in the property as your primary residence for 2 out of the previous 5 years.Regarding your last question - again you cannot 1031 a property that is currently your primary residence even if it was investment at one point in time. 

I can't see the reason to go else where to make 1% or 2% greater return.. you would eat that up in travel costs alone.But anyway.. in my mind we are getting to a balance market.. and your correct rents are not keeping up with costs.. so will be interesting to see how it all shakes out in the years to come.I remember when I started in the business if you put 20% down or 25% down and the tenant just paid off your house  forget about cash flow that was a huge win..and why not.. its a forced savings safe investment tax benefits.. etc.. then it became you have to make money on your down payment this is what created that run..Maybe we will step back in time and break even will be great..

I wasn't sure what to expect, as I'm new to BP, but I'm pleasantly surprised by the support and timely feedback.

At this point in time, you have all the rights and obligations (and tax benefits) of home ownership) and can claim the typical home-ownership Schedule A deductions on your personal 1040 if you itemize.  

Juggling building my RE career and running my business has been an exercise in time management, and most of that time for the month I've been licensed has had to go to compliance and training.