I think if you're in it for the money, location in a decent sized metro with a lot of transient work force would be key.

He would also not need any private money lenders to close these transactions -- his bank would be dying to give him a commercial line of credit. 

All the other fancy ways people try and get creative with owning something typically only costs you money and provides zero benefit. 

While selling as-is might bring in less money upfront, it saves the hassle and expense of repairs.

I lost money to Teshaw as well.

It's a year 3 or 4 refi to return 100% of the principal and then projecting a 10 year hold because it's great cash flow and all the money will be out of it. 

See this BP blog for a numbers comparison - More Units Doesn’t Mean More Money—Why a Single-Family Home Can Beat a Fourplex.Stay focused on your goal, financial freedom; not following popular dogma.

In that case you're out a whole lot more money.

In the end, it is up to how the investor themselves classify the lender.HML is thought of being more "institutional money". 

You just have to focus on lenders who want security for their money.