Within the last 2 months, I've been approached by numerous investors asking if I do rent by room which I currently do not.

As you narrow down your REI type, try to do the broad review approach to see if you have the resources to do that type or scale.  

@Silas Melson, I agree with @Bruce Woodruff that a price per square foot approach is likely to be the least accurate and least useful.

@John MorganNice approach.

I am wondering if taking such a risk would stretch me really thin or is there a safer approach to take.

Your best approach is to assume the loan in your personal name and explore legal and financial strategies to integrate your entity afterward.Feel free to reach out with further questions—I’d be happy to help!

My guess is he has seen sellers harmed in a big way in low value low credit markets he works in so for sure could have a negative bias.And this goes for Sellers to right now many are getting approached since you have armys of folks making offers this way ( I get them monthly and can tell they are sub to training disciples based on the offers they make) unsophisticated seller who does not engage a very good RE attorney to help with these is taking a massive risk

I use the "profit first" approach to cash management and am VERY happy with what it has done for me. https://a.co/d/h16sPxR

I’m interested in learning about buying and holding long term rental properties.But I’m in a really messed up situation right now and looking for suggestions what would be the best approach to my situation in order to scale quickly. 

Kudos to him for doing it, but his rules and his dogmatic approach is also the same thing that made Open Door Capital a horrible venture because they skip over being pragmatic.