These are business purpose loans so there isn't any sort of red tape when purchasing multiple properties at once or one after another.

Proper underwriting - this includes an appraisal, loan app and full underwriting to comply with CFPB regulations.2.

Interest rates and cap rates change, competition changes, your PM ends up being horrible, lots of variables.Just to throw you a monkey wrench, in your killer spreadsheet does it include the credit score, income, and employer of every resident? 

You Can Only Have 35 Non-Accredited InvestorsRule 506(b) allows an unlimited number of accredited investors but restricts you to only 35 non-accredited investors.However, there’s a catch:Non-accredited investors must be financially sophisticated.They must have enough experience to evaluate the investment risks.From the SEC:“Securities may not be sold to more than 35 non-accredited investors… [who] must meet the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment.”If you’re planning to include non-accredited investors, make sure they qualify—or you could be violating SEC rules.3.

Including one by Michael Blank.

A broker shall not be responsible for supervising, nor shall the licensee be responsible for operating, within the scope of the brokerage or within the requirements of this chapter, activities that would be considered property management, including leasing, maintenance, and repair, so long as the real estate being managed is "individually owned" or "entity-owned" as defined below:(1) "individually owned" real estate is real property in which the licensee holds an ownership interest; and(2) "entity-owned" real estate is real property owned by a corporation, limited liability company, partnership, or trust, within which entity the licensee holds an ownership interest as an owner, trustee, partner, or officer, or in another beneficiary capacity.

Lenders will not send out an LE without a complete application (which includes a property address) because it's basically binding.

I don't remember the exact cost when I did it but I remember thinking it was cheaper than expected.I didn't see a comment mentioning that you should just include utilities in the rent and increase it based off that so I'll be that guy.

Between a 1031 Exchange, HELOCs, and a partnership, I'm up to 15 doors including my personal residence.

You want an investment that pays for itself, including mortgage, taxes, insurance, maintenance, and even some money set aside for a reserve to cover vacancies and capital expenditures.