Which is its a low cap rate deal, you might need to put 40% down in order to meet the banks DSCR loan covenant. 

I think it really depends on if you are able to increase that cap rate with value-adds post acquisition.

. $93k/unit for 50% vacancy doesn't carry hardly any debt, hence why they are capping you at $500k.

To do a 100% BRRR the cap rate has to be lower then interest rate.

Florida homesteads have no cap on the asset protection (I don't know Utah's laws), so for folks like surgeons, I would set them up with an equity line rather than a first mortgage.

They excavate the sewer main for their tie in, while exposed they cut my active line and capped it. 

All the "bad" affects them first.Pref equity has a known capped upside and more downside protection, but as @Lane Kawaoka said, getting paid and/or getting your money back is not a guarantee.

I think it has a soft cap; therefore wages and/prices will have to behave. 

At first, I would throw all my mailbox $ into savings for cap ex things.

Make sure to also include in your calculation all the associated costs of those homes (maintenance, cap-x, management, vacancy, etc) then include the selling cost of the home since the appreciation isn't unlocked until you sell the home.