I know Virginia Beach is attractive but that average price for Alexandria strikes me as rather low.

Have you calculated how many properties or average monthly revenue it would take to reach that goal?

We run a special kind of co-living property management that has houses mostly run themselves, 97% occupancy, and over 2 year average tenancy. 

Real estate investing is forgiving; the average person can still make money even with some big mistakes.

Cleveland currently has one of the lowest price/rent ratios in the Nation, with the average home price being $107k and the average rent being $1,416/Mo.

What is the average selling price in the neighbors you are looking for in your city?

Markets with disproportionately high new construction, like Austin, TX, will see rent growth pace behind inflation or even (again) fall slightly on average.

Yup half of these ideas are OLD NEWS  I never equate Texas and low tax's LOL also my concern with build to rent subdivisions is not the rent or the first 3 to 5 years but the exit in 7 to 10 years which is average hold time for investors.. 

So, in your example it might be at 9% interest rate which would make the weighted average HIGHER than taking out a mortgage at today's interest rates because the 2nd mortgage would be 3x as much as the 1st mortgage. 2.

If you're able to download the SPD (Summary Plan Description), there will be a section pertaining to loans where you could find out and know ahead of time.