How you intend to attract investors (privately via a PPM or publicly via an offering circular under the new laws)Also, a "hedge fund" implies that you have a strategy that is counterbalanced in some fashion.

Find every listing that looks like its "owner managed" (implied:  it's a place and area you're interested in). 

Generally speaking, I understand lending higher amounts typically would attract "better" borrowers, in turn further mitigating risk which should imply lower APR's, just curious?

Thats similar to what I was indirectly implying.

This does not imply that you should be directing the PM, UNLESS you have adequate experience and knowledge of the specific locale.

So are they implying that there are a certain amount of houses that i have to invest in?

That formula implies rent needs to be one third higher than the mortgage to be break even.  

Also you mentioned HOA which implies it is a condo.

@David T.Thanks again for your valuable time.Are you implying that "pre-approval" doesn't apply to construction loans, only to personal loans? 

That leaves $30K a year cash flow.7% cap rate implies that this is a B+ or better building.