On paper what you're describing might sound doable - but it sounds like your perspective on REI is based off of knowledge of only the "good parts" Managing and owning rentals (yes, even with a PM & price point of sub $50k) comes with its own challenges and headaches. 

You may find it’s best to just search for your next deal and consider coming back to this opportunity at another time.  

All the best,Diego most of the good ones won't touch less than 100 units and even that is for new construction. hate to be the bearer of bad news. we are looking at ground up condo deals with entitlements and I reached out to a few HOAs based on larger towers and the best will cost more than it'll be worth.

I am looking at conventional loans, and as you said, scaling becomes very difficult based on the first method of calculating DTI, especially if you are in an expensive market.

(Biggerpockets has an agent finder also) You can also do a forum search for the area and see who has the most activity, they can help or set you up with someone who helps.I would hold off on paying for a program until you are further along because most of them are going to center on scaling from small landlord to large, repositioning, flips, etc..

Begin with a small daily budget to test performance, then scale up based on results.

Once you accept rent while knowing of a lease violation, the law will not look kindly on any future attempts to evict based on that lease violation.

Your business plan is based on the perfect storm as jay mentions and if there is the tiniest crack it will all come crashing downIt appears there has been zero risk analyzed in this business plan.

They used both of their credit histories and income to qualify for the financing so that's what the underwriting is based on.But you also have to look at the tax implications.

Some lenders have limits on the maximum loan amount of a fixed second mortgage or HELOC between $250-500k although many have unlimited cash in hand but still based on the loan to value.