This is not even close to the documents required for a properly drafted loan.

If you sell your only overachiever to go with a more leveraged position, you could have 2-3 properties that may cover themselves or even provide a little profit, but when the rental markets shift (and they do), now you have 2-3 properties that all require you to supplement for their shortages. 

The property required a full gut rehab as it had been vacant for 15+ years.

You aren't required to offer a loan mod prior to foreclosure.

Depending on how it is done and what guarantees the government offers and requires of the released entities, interest rates could move slightly higher.

BTW: most owners that have hired a PMC, don't want to speak with you, much less meet with you in person to hear a hyped-up sales pitch.Also, you want to do rental arbitrage - so, you will need to be properly licensed to manage properties you do not own as required by your state & local laws.- why would an owner want to do business with someone NOT properly licensed?

It requires hard work, strategy, and a willingness to take on projects others might overlook.

Does airbnb require you have a permit to list in SLC or are people just winging it without permits?

I'm not sure if they still have the 2 year requirement on income if it's going to be your primary residence.

In my experience in MO, land bank properties are very low priced (these are generally properties/parcels that weren't sold at the tax auction), but they often have significant tax liens on them that must be cleared in addition to the "sale price" AND they require a significant amount of rehab in order for the properties to be inhabitable.