The only way I would ever win a MF deal in DFW would be to overpay - I wouldn’t understand the sub market like the locals do.Pick one or two markets you can get to easily.

also especially for the first few I would look to build a good team in the area you want to work so they can help you understand these differences

The industry standard currently is around 70%, but there are some that will go up to 75% or 80%, but you've got to have pristine credit.

In working on construction loan financing, the lender informed me I'll need to unencumber that portion of the property (makes sense) before closing on the construction loan.I understand there to be two methods generally speaking: refinancing my mortgage and removing that portion of the property in the process OR attaining a partial release from the lender to remove that land.I *strongly* want to avoid refinancing as I have an amazing rate, but partial releases seem complex and also require a survey.

Additionally, I’m considering converting a garage into a bedroom.If I want to list these properties on Airbnb, I understand I’ll need to obtain the following:• BTR (Business Tax Receipt)• CU (Certificate of Use)For these, I’ll need to undergo a city inspection.

If you think real estate investing is about cash flow first, you don't understand real estate. 

If I go BRRRR I’ll refinance with a standard lender.Assuming we sell for $625k which is the ARV and market analysis I pulled, purchased for $345,500 and have $120k in reserves for rehab cost.

Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

With so many banks to choose from and me already doing thorough research, I was hoping someone had a personal good experience with a certain bank or an individual at a bank who understands our world.

You should definitely talk to your CPA, which I am not, but...My understanding is that until you actually have a business, meaning a property in services, nothing can be deducted.