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.

Take into account aspects such as affordability, cash flow, savings, market trends, and long-term goals.

Yes I am starting out so this is why I don't see the need for a CRM especially if I plan to work with a PM to handle all aspects of the rental .. which a CRM wouldn't really "track" 

I also just hired a coach so I can get much more defined and under 7% body fat.   

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. 

Multifamily DSCR Loans, or DSCR Loans for 5-10 unit properties, combine the best aspects of DSCR Loans (30-year fixed rate, easier qualification and underwrite, low down payments) for properties that traditionally were ineligible for that type of financing.

Some sellers haven't filled tax's since Gerald Ford was president, other do it via receipts in a shoe box, some just make up numbers, some have an accountant, it's literally all over the board as is every aspect of small MFH investments, the only standard is there is no standard. 

USLI definately does more than 10 properties.