If your property has fire suppression system (sprinklers) than you have to have your alarm monitored and the price sounds about right.

(ADA, Zoning, Building/ wind codes, fire codes and fire suppression needed etc..).

We got bought out about a year ago and the appetite for construction loans (part of my investing business model) was non-existent in the new institution.  

Social rooming houses who cater to those on the edges of society are outside our expertise and appetite. 

If you don't have the tax appetite, you can get an operating lease where the financing company will take the tax credit and you'll have lower payments.  

Ha ha, I think the dog is getting the munchies...the weed smoking is the least of my problems with this bunch next doorDogs ALWAYS have an appetite - you just don't want those pitbulls munching on you.

FYI: a bank's appetite for loans has many factors: portfolio concentration, industry expertise, availability of funds/balance sheet to lend, legal lending limit (capitalization), local competition, cost of fund, etc. 

You can get better returns by building a team, doing the renovations, etc yourself -- just depends on how much time you have to spend, and what your appetite is for that side of the business.

So, here's how the numbers might work out for you:-  You decide you need $5,000 per month in income to quit your job-  To generate $5,000 per month (which is $60,000 per year) at 10-12% return, you need to start with $500,000 - $600,000-  With $500-600K, you can likely buy 5-10 rental free-and-clear or 20-40 rentals with leverage (depending on your appetite for risk and time/effort)

I may have the opportunity to purchase a smaller condo from a relative - quite simply put, she doesn't have the know-how or appetite to manage it as a rental and wants to be rid of it.