And know they will scrutinize every decision you make, tenant selection per se-all will have greater scrutiny. 

@Tyler Mau one area to check out is Murfreesboro about 30-40 minutes SE of Nashville.

I recognize that my proposed scenario isn't "real" per se, but I'm at a stage where I want to keep this passive as I have a job I enjoy, a young family, write some music for passive income royalties.   

If that weren't the case, then it would be a SE matter to refinance after the purchase is complete.My concern wasn't the cash, but the 2 for 1 aspect, which I'd not researched before.

Honest question I didn’t yet see - just for conversation, not debate per se...

One house on our block (SE Longmont) saw the homeowner make $5K a month last year and his house is 6 bedrooms.

Sale prices and demand is still incredibly hot all over our SE corner of Wisconsin.

I restore/rehab and flip just SE of the triangle, but have worked in that area too......

Not necessarily wholesaling per se, not making lowball offers and selling it to an investor, but rather handing over good deals in good faith to build a relationship with investors.

If you're a Grant Cardone fan he detailed a bit in his show about purchasing a total of 2 or 3 apt complexes in SE US that totaled over $100m for the total purchase price in one transaction.