Your license is generally a 75 hour course (can be done on-line) and a $50 test.

The primary thing I would be looking at is the purchase price to rent ratio (1%, 2% rule).

I am 48 now and I figure that I will need somewhere between 40 and 50 doors to retire at the same level of life that I am living now.

I know I will have to pay incomes taxes as apart of this conversion, but I've been doing some reading and can't seem to understand if I will also be hit with additional taxes as a result of something called "pro-rata rule".

The FHA wont back a loan on condos  where the rental rate exceeds 50%.  

Another option is stating you are increasing 50 dollars per month until reaching (insert final dollar amount). the actual numbers though are easier for most tenants and really clear.

My point would be: if your DTI is higher than 49%, how would you be making money from it anyway (given that the rest of your expenses to run the property are likely to be circa 50% of its income)?

I know the formula is a guide/base line but when you have ARVs hovering around the million dollar range, is there a rule of thumb or a percentage amount increase to determine purchase price?

In any case, I put an offer in on a condo following the rule of buying 20% below FMV, and it was countered but still not even close to where I needed it to be for it to work.I researched about 25 properties viewed 4 and put an offer on 1 and it didn't work out.

I run my hedge fund mostly focusing on 50% LTV non-recourse lending on cash flow properties.