I’m not trying to rain on anything here but the reality is that measuring Btus delivered to individual units via airflow is by its very nature imprecise - if you want to know why, read on...The size and length of the ductwork is but one factor ( of many) that will yield energy losses while that warm air is being moved to your units.

@Andrew Caton What size deal are you looking for right now?

With the funds you listed and property size you should be able to comfortably have 2 even 3 projects going at once (depending on what you're up for), especially after you sell the current house you are renovating.

It is important to look over these numbers before you get to the closing table.

@Lorenzo Lopez It depends on the size that you're focusing on. 

The west has a completely different scale of size than out east..

These will specify how the land can be used, the size of parcels, and what you have to do to build on it.

I get paid $250 per call on my knowledge right now from firms in New York and you should consider what you bring to the table 

Thanks for input - He's insisting that because it's a DSCR loan, and because the size of the deal is too small to go into their "Portfolio Loan" product, that it has to be two separate loans. 

Something else to consider is that once these properties are paid off, you could cross collateralize to purchase additional properties that fit your buy box so that you may not need to bring cash to the table for a down payment.