Payment Terms & Renovation LoansA financial agreement is the backbone of any contract.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

The reality is most financially independent people went through a decade + of working 60-80 hours a week.

It requires a solid FICO, that you get pre-approved with all current financials held in file beforehand, with the complete contract package submitted upon execution which starts the clock; insurance must be arranged within three days for lender underwriting. 

Had I scaled up in 2002 after buying my first multifamily, I'd have had a much larger multifamily portfolio during the great financial collapse and I probably wouldn't have survived it.

I would agree if we were talking about financial statements, but as I understand it, we are talking about tax basis reports.For tax purposes, one can use a modified cash basis when filing.

@Joe Gellenbeck 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 Class A property in Class D area, what quality of tenant will you get?

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

The number of DSCR (Debt Service Coverage Ratio) loans a lender will offer can vary depending on the lender, your financial situation, and the property cash flow.

A financial advisor or real estate pro could help you map it all out more concretely.If I were in your shoes, I'd probably lean towards selling and reinvesting into some more diverse assets, or just more properties, but that's just me.