Love to know. couple things  NV is one state were NMLS registration and state license are required to be a lender on any rehabs on 1 to 4 units.. that's number one.. you check with the statealso I would file a complaint with the state of NV  mortgage enforcement division right away if this guy is not legit he will be shut done and fined.  

CA rules do not require a closet but some jurisdictiins in CA require a closet.  

In many places you might be required to get some kind of municipal occupancy inspection.

Start with a rental that has modest rehab requirements such as updating kitchens and bathrooms and make sure you qualify for permanent financing through a lending source that offers interest rates similar to that of  a bank.

However, we do have a few hybrid properties listed on Airbnb with a minimum stay requirement of 30 days. 

It will also require extensive networking to raise funds from other, legally, to buy at scale.Recommend your plan be more realistic with a goal of 10 years for your real estate to be generating enough cash to live off - and even that may be a bit optimistic.How to grow?

Are some of your bigger buildings more than 16 units (requiring an onsite manager)?

It takes time to get the required knowledge. 

Home was nice 4 Bed 3Bth under $550K with a decent size lot/yard and it only required 5% down as a New primary.Now I am not sure how big of a home you need but as you can see $100K covers much more in a scenario like that one above. 

The system is what's really broken:1) S8 should have a time limit - get free housing to get your life in order and move on.2) S8 should have strong requirements for taking care of the home taxpayers are paying the rent for. --- We haven't seen a S8 inspection report in over a decade that required a tenant to fix damages they obviously caused.