You however have the luxury to take a couple big swings and be able to recover and repeat what worked much quicker. 

Build - rent - refinance -repeat. in columbus ohio you are buying old houses that are 1900 or 1920 or 1940 and you are in a sellers market. on the other hand you can source land which is a buyers market and build single family homes or duplex or triplexes that will return by renting and pulling cash out on a DSCR loan and doing it again. there aren't a lot of strategies that do this. flipping is different. so many risks. but when someone has a well oiled machine it's all good and less risk.

Lending laws change frequently, and we receive emails from Lightning Docs throughout the year explaining their updates to the documents we use here in CA.

When I helped start a restaurant, I tried to prepare as much of this stuff as I could before opening and it saved me stress and time repeatedly. 

Repeated outreach to the seller and building rapport.

You are interested in a certain market to use the BRRRR (Buy, Rehab, Rent, Refinance, and Repeat) method to purchase property.To find these properties, you asked how many Realtors you would contact in that area.Honestly, most Realtors do not speak investor language and are not investors themselves.

This type of transaction occurs frequently.

The downpayment and closing costs would be one large hurdle in order to repeat this, I'm not sure how willing lenders are to allow 3 properties a year.

we need our own forum for this concept. I'd argue that there are very select zip codes where this strategy works. You need to find a zip code where land values are 10% of less of after built value. You have to find a ...

Very repeatable and much less time intensive than actually owning the real estate in most cases.