There are many reasons why I haven't pursued the arbitrage model, but mainly that it takes too long for the ROI after investing all your time and effort into buying furniture and renting and paying utilities.Let's say you rent an apartment for $1500 and you spend $7000 to furnished it.

If I was in your shoes I would find ways to streamline your day job so that you are not spending as much time in that role.

There really isn't a safe, secure way for someone to protect their interests.

I’ve got great tenants in my SFH so I spend very little time on that every month but in my market the Multis just make more sense.

So, as a buyer I would not want to spend money before having a contract.

To invest out of state successfully, focus on building a strong local team (agent, PM, contractors), automating deal analysis, and using contingencies to protect yourself.

I mean there is so much to scrutinize here we could spend an entire afternoon reviewing the actual deal let alone the financing.I wish you luck either way man.  

I hope you are working with an excellent agent or broker, they can create leverage and opportunity for you while protecting your interest. 

If you're earning primarily W-2 wages, interest, or dividends, those attractive depreciation deductions from your cost segregation study will be suspended.Think about it this way: You might spend $10,000-$15,000 on a cost segregation study, expecting immediate tax savings, only to find those deductions suspended indefinitely.Does this mean cost segregation studies are worthless?

Multiply that by 8 properties and that adds up quicklyAt this point I've amassed around $150k in debt, I'm spending hours a day trying to find large multifamily properties with nothing to show for it and the whole passive income dream I was sold seems to be a huge lie.