My skepticism is derived from my experience in this field and I think it is important to point out the fact to all members here that just because someone who says things are going great and "it's all happening" without showing an actual real life example does not make it so.

@Rhonda DavisARV is an inexact science that is derived mainly research and analysis and a small part "gut feeling".

Every post on this forum involving a problem tenant derives from the fact that the tenant in question is not properly trained and therefor does not know what is the right behaviour.

@Spencer Glaser  This is directly from FHA Guidelines (Book 4000.1) in regards to calculating income: "If Rental Income is being derived from the Property being vacated by the Borrower, the Borrower must be relocating to an area more than 100miles from the Borrower's current Principal Residence."

There are a few exceptions here (military orders, employment-forced moves, etc.) but for the most part, any income you have that isn't derived from rental income on the SFRs would have to be able to sustain all 6 properties in order to qualify for the FHA loan.

Since active operator income is derived from wholesaling and fix/flip, I'd be ok using the same entity - an LLC taxed as an s-corp most likely.Buy and holds get passive income, so needs it's own entity if at all.  

For commercial or multifamily properties the value is derived from the net operating income a property produces (cash flow) and the cap rate of the property/area/class of property.

My partner and i had to do a market analysis from international to local level, predict the value of our property (a mixed-use building) using noi, and cap rates derived from several methods, calculate before and after-tax cash flows, npv,  irr, rules of thumb etc. then decide to accept or reject the project. 

The use of a mortgage will also introduce a small tax known as UDFI on the portion of the income derived from the non-IRA (borrowed) money.  

The CapEx should be adjusted after your inspection to derive a more accurate number.