I’ve been in a similar position where I wanted to scale but equity was a limiting factor.

Is there a limited number of licenses? 

Coghill they are trying to take care of several things:1) Approval to access credit reportsA video tour of my home office (required by the credit repository to show security, so access to office & computers is limited to avoid data theft)Credit checks on me and my partner (required by the credit repository to make sure you are not criminals looking to steal others' data)Copies of the deeds for every property we own (required by the credit repository to confirm you aren't just self-serving)A copy of my partner’s home lease and utility bills (required by the credit repository to prove his legal address, so they can pursue him criminally if he steals data)Business phone bills (required by the credit repository to prove an actual business)2) Approval to use banking ACH system to accept tenant payments and pay ownersBusiness phone bills (required by banking industry to prove business legitimacy)A signed letter from the bank verifying our accounts (to prove legitimate business banking accounts.

While smaller towns in Kentucky often have lower price points, which means less capital is required, there are limitations to the profitability of these markets.

That’s something I’m still fine-tuning as I explore new areas.As for scaling up, my focus right now is on leveraging tax-efficient strategies and building a system of limited liability companies (LLCs) to keep risk compartmentalized.

The area’s limited number of apartment buildings means that many renters prefer single-family properties, creating steady demand for these homes.Having assisted numerous buyers in Little Rock, I’ve seen firsthand the opportunities this market offers.

Why ask: If you’re not going to be a full-time investor or professional, it’s important to ensure that the mentor works with people who have similar schedules and limitations.11.

To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

Dan makes a great point - you want to be clear of any areas that are working on limiting the ability to rent OR cap your rental potential.

Of course, it's for a limited time only, then they are going to "shut off the Gator Method" for about a year.