So, if your current rent roll is still on the lower side, it could limit the amount you can borrow right now.However, if you have even a partial track record showing improvements.. say a few of the units are already updated and attracting higher rents.. a lender might take that into consideration when underwriting.

It’s going to take you a considerable amount of time and effort to reach $350,000 per year.

Experience Purchasing from Non-ProfitsPurchasing property from non-profit organizations often involves additional considerations compared to typical transactions:Decision-making process: Non-profits often have a board or committee that must approve property sales.

for infill I concentrated on Charleston Sc and built about 35 homes in that market. uber competitive for dirt though they are running out of it and the city wont let you tear down homes in many cases because of historic considerations.

Passive investments require a lot less work to maintain although they do take considerable work on the front end to do appropriate due diligence (at least if you are a conservative investor).

Considerations.1.  

I wouldn't agree that Vallejo and Stockton should be lumped in with Oakland, Richmond, and Sacramento...as the demographics, population forecasts, and job growth forecasts vary considerably.

Does the bank take into consideration the income from the other units?

There are some legal considerations as well as practical considerations 1.  

I'm a GC as well and did the math, the Heloc would save considerable interest because it would average on 33% of the balance borrowed at any one time (and thats assuming constant deal flow).