I think strategy should shift towards looking for good deals, sellers that panic and cut price too much or were rental property beginners that are overwhelmed what they signed up for. 

He shifted from 2nd to 3rd in full throttle and did an endo. 

Also note that the various lenders internal policies shift and change frequently depending on their mortgage/asset holdings and exposure risks.  

I have a client looking in the same buy box as your father and he shifted to casa grande and Tuscon.

I currently work full time as a government contractor but I am looking to build a real estate portfolio so I can shift away from W2 earnings and begin to grow passive income streams that I can expand on over the next 10-15 years.The townhouse I live in now is the extent of my real estate purchasing experience so far but I have been trying to absorb as much information as possible thought the podcasts on BP as well as reading several of the recommended books that are constantly thrown around on here to expand my education on investing.My short term goal is to purchase my first property by the end of this year and have 4-8 SFHs or THs in the next 3 years. 

They have local branches so it can vary from some to the other, but typically if you want to have your house neglected and ignored while they rent shift a huge chunk of the income direct from the guest to themselves, bypassing you entirely, then they're the way to go.The vast majority here self manage. 

Had 11 pipefitters in my big house.  3 story, 4 baths and a jacuzzi.  9 beds, 11 guys, day and night shift. 

chain house hacks and gradually improve your freedom and cash flow while continuing to shift from the profit to the comfort spectrum from one to the next. 

The book Recession Proof Real Estate Investing by J Scott is a good, simple read on how to adapt to market shifts. 

Think house hacking makes the most sense starting out - use house hacking and conventional financing and turnkey investments to start out and then shift over to commercial (DSCR loans) for BRRRRs after you have a couple years under your belt and are ready to scaleAlso - be careful of making such assumptions of raises, bonuses etc. over the next couple of years before even starting - things have a way of not always going according to plan (and always smart to be conservative with assumptions).