We have strict financial criteria we use to ensure this and can prove time and again that our criteria work.

Trying to get into the nuts and bolts of how he was trying to source a location, project size of preference, what type of financial modeling he does, what kind of tenants he was hoping to attract/the strategy behind it, if he was doing any joint ventures or had done any in the past, if he had taken part in any syndications, what management strategies he was implementing with his current properties to maximize lease uptime and profit, what types of leases he generally favored contracting for his properties--all of that was like pulling teeth.

@Rosette PooleRecommend 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?

But definitely consider chatting with a financial advisor who knows real estate—they can help run the numbers for you.Hope that helps, and good luck!

Make sure you have financial reserves for repairs/maintenance/CapEx I would personally sell the SFRs - slow market right now, keep that in mind with your selling price expectations.

Also post if you know something similar.Every investor comes from a different financial situation and has different financial goals and risk tolerance.

Usually an investor in that kind of financial position wants to have the home they want not live in their investment. 

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 you guys having a strong financial base you have plenty of options, you guys just need to pick ONE then go for it. 

During the 2008 financial crisis, both entities were placed under conservatorship by the Federal Housing Finance Agency (FHFA) to stabilize the housing market.