It forces users to manually split mortgage payments into various components every month, has a painful process to start new mortgages and close out existing ones, and generally has a miserable process for handling everything around loans and amortization. 

That means shorter loan terms, higher qualification hurdles and floating rate or balloon components.

It doesn't have to be perfectly defined - for example you can have more than one market - but once you have a general criteria you can gather a list of Sponsors, eliminate those that don't fit your criteria, and then begin to interview them / some of their investors to make your final decision.

So there's a catch-22 in there when you define an "exit".Again, I'm incredibly happy to be wrong on this one as I'd love to know that I could start managing my 36 doors myself and have a business with a valuation of 1.25x revenues after a year.  

@Sejin Kim you will definately want to be there for the final walk thru, especially if the tenants will be out before closing so you get a true picture of the condition after they remove their belongings.

@Preetinder SinghYou definitely need to define what/why you are getting your real estate license. 

You might consider exploring refinancing into bridge loan with a rehab component.

USLI definately does more than 10 properties.

With Fannie/Freddie they do NOT define a "second" home with how many days you occupy it.  

It's your cash, and ONLY your cash, that defines what that property costs you.