This is based on the true value of what the cash/cost in the property (DP, Cash Flow and equity) is buying in property value.This is an example of the compounding effect Albert Einstein referred to as "the greatest invention of the 20th century". 

Personally, I'm not a big fan of offering two year leases.

I own a local short term rental property management company based out of the Jersey Shore.

While most municipalities do not possess an interative map as easy to use, once you famiarlize yourself with the base zoning districts that allow the 2-4 unit buildings, relying on the local zoning maps will help direct you to the specific areas within the municipality that possesses the proper zoning.

They have great paints, consistent colors and consistent bases and can mix up pretty much any color from another manufacturer.

I'm personally a fan of C-corporations, though they are also complicated.

We're talking commercial dehumidifiers and fans.

Now I know realtors are salesmen and middlemen and I am not a huge fan of them in general but I can't help but wonder if he is right about this.

Besides, there are no cap rates on residential real estate- you refi based on comps, not NOI. 

Another option if this is strictly for investment purposes, you could try to go DSCR. we have one lender that will allow for 1-4 units (inv. prop solely) who will go as low as 620 fico, but your LTV may be limited to, say, 70%. qualifying would be based on the rents received, not off your $100k income. there are options out there, keep working at it and get a 2nd opinion even on a full-doc loan. hope this was helpful to some degree!