My goal was to just take his month late payments and give him a non-renewal when his lease is up.

For a variety of reasons, including keeping this potential project "need-to-know" only right now, I want to get a ballpark estimate with full understanding that the goal posts could move in either direction as the project gets more discrete. 

I've also loved learning about the other 10 markets we operate in.I have two big goals.

What is a goal you have as you start learning about RE investing?

Good for you on expediting your goals!

I don't currently have any investment properties, but will likely work with a turn-key property managment in the Memphis/Little Rock area.My goal is to build a good cash-flow portfolio to ease into retirement. 

There is also a significant time investment in continuing education, and as others have mentioned, liability.If the goal is to access off market properties, simply having a license and MLS access won't necessarily help.

However, some lenders may have guidelines on how soon you can move in, so it’s worth double-checking if they have any seasoning requirements before converting to owner-occupied status.Refinancing Options – If your goal is to eventually refinance into a conventional loan or an owner-occupied loan, be aware that most lenders require 12+ months of documented 1099 income for qualification.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

But others investors with different risk tolerances, goals and financial situations invest in the platform.2) I feel directly owned properties are great because they give me maximum control and the ability to tweak them exactly how I want.