If you're going to do a lot of D4D, then you might want to have that, too.When I do D4D, I use PropStream to locate a number of properties in a small geographic area. 

Year long lease typically, with subletting allowed to offset summer months cost to tenant.I worked out some high-level math: Assuming there is a 6 bedroom single family house for sale for 800k, and I can rent for 6k/month.Financing: 350k cash, 450k loan @30yr, 3.8%.Assumptions: 7% vacancy/yr, $4000/yr repairs, $10k/yr property tax, $4k/yr insurance, 8% management fee+50% first month rent on new leaseMonth-to-month breakdown: Income: $6000 Vacancy, Mgmt fee, repair, taxes, insurance: $2300Loan PI: $2650I'd take home ~$1000/month. 

I'm interested in how others structure their ALFs.2) I'm thinking of going with an SBA 504 loan to acquire the property and do the remodeling.

@Jon Ankenbauer you won't be able to keep the land separate from any future construction loan.

You aren't required to offer a loan mod prior to foreclosure.

I will be quick to admit I have only had experiences with small rentals (6 units and smaller) so if you are looking for help on larger apartment complexes I would not be a great resource.

So we would have to get a loan, pay off the seller and transfer title and then wait the seasoning period before doing a refi unless there is a bank out there that will treat it as a refi off the bat

I’d pay my 0% interest for a year credit card loans and 401k loans off asap then repeat.

On my second house hack, I am hoping to scale beyond small multis soon. 

Are you referring to small multifamily deals or commercial properties with five or more units?