And with the example you used of being able to save 100k per year, do you really think that there’s gonna be that much stress relief from a paid off mortgage when you’re making kind of money?

That's why I stress the importance of building a relationship first.

Ultimately it will depend on the property (banks perform stress test-debt ratio)-but I think 5 year term is what I found so far.

I can't imagine the stress that must come at the end of the semester, especially the spring semester, when students finish up their studies and move out, in unison.

Additionally, don’t overlook the opportunity cost of pulling money from your 401k—those funds could have been compounding in the market.I’d also suggest stress testing your ROI by running scenarios with higher expenses or lower rents to see how resilient the investment is.

The title: The Pro's Guide to Property management Less Stress, More Rent, with Amelia McGee and Grace Gudenkauf. 

In each category, note how much you are bothered or stressed on a 1 to 5 scale, with 1 = not bothered at all and 5 = stressed out: Pain Points Stress1 to 5 Pain Points Stress1 to 5 Unit turnover Exterior maintenance Advertising for available units Deferred capital expenditures Tenant screening rules Plumbing or electrical emergencies Tenant selection / discrimination rules Mortgage payments Documenting move-in conditions Bookkeeping and bill paying Documenting ongoing conditions Taxes and insurance premiums Dealing with tenant complaints Risk of late payments or non-payments Dealing with neighbor complaints Risk of property damage or vandalism Mold, termites and rodents Premises liability Interior maintenance Evicting tenants If your completed table has mostly 1s and 2s, then congratulations—you are a happy landlord!

Financing-  build a relationship with a regional banker, don’t shop for interest rates, start small and build history and loyalty they are your team, Cross collateralize, deposit CD/MM or custodial account with bank for loan, give them monthly updates, nail your deal analysis, do stress tests on your deal analysis-cost/interest rate/deal length/ sale price etc. 12.  

It was much more stressful and not worth it IMO. 

Most will never understand the hard work, sacrifices, risks, and stress that comes with building a successful business of 28 units from the ground up.