It's not impossible though.

Not impossible, but more expensive.

Trying to close by the 24th by anyone other than a HML that has their stuff together will be virtually impossible.

There is some savings, but not as much as you might think.Loan types:Conventional (15 to 30 year fixed): will be three loans, as you stated, and property will have to be acquired in your personal name; but you will get the lowest rates (around 4% for 30-yr fixed) and it doesn't matter that you don't live in the area of the property.Portfolio (5 yr balloon or 5/1 ARM): it will be almost impossible for you to get a loan through a local bank portfolio lender, as I've not found one yet that will deal with someone from out of their market area.

Impossible?

However -this will be tough, as you are just starting out and don't have a lot of experience, but it's not impossible.

I've had a few discussions with colleagues in the business and I am being warned about buying props in SoCal and taking a hit to my debt/income ratio rather quickly - thus making it difficult if not impossible to take on additional debt/loans.As I'm looking to eventually build a portfolio of 5+ properties in the next year or so, is this something to take into serious consideration and should I look at different (lower priced) markets given my goal above?

What looks horrific and impossible may not be so bad for someone with more experience.

Insurance 40/mo and taxes approx 100/mo.Unfortunately, other investors have caught on to my idea and it's next to impossible to get anything in that area nowadays for under $100,000.

Not that its totally impossible but for someone to be all in for $16k and the home rent for $925 section 8 seems almost impossible.