How much will you spend in repairs on a 1920's house with renters ? 

For example, a private hot tub or pool can command a premium in most markets, which directly impacts ROI.Cost vs.

I have 30+ units and on a regular month usually only spend about 5 hours total on management things, most of which involves collecting rents and bookkeeping.

However, if you’re not ready to jump in yet, you could spend the next couple of years building your savings and learning more about real estate to feel more confident when the time comes.

My assumption is that people who qualify probably have other options, like PPMs with groups they know, syndicators they know, private funds and other vehicles that may be more lucrative.

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

That's understood.Page 19, Two faces of Debt: Federal Reserve Bank of Chicago - "banks exchange a borrower's "promissory note" or "security" for a check that other banks can deposit" (so the note is funding a check) same page states, "...the borrower can spend the deposit acquired by borrowing"... 

Unless you're working with Private Money that is going to carry the risk of your lack of experience, banks want to see experience, Net Worth and liquidity after close to consider the terms.I started with single family, four plexes, and remodel flips for a lot of years before getting into larger deals. 

As noted, if your options are Reg D, private offering vs fully registered public offering, even if you are talking Pink Sheet (OTC) stocks, you have public filing costs, annual audit requirements, and likely more on-going expenses that have to be covered by the property(s) owned by the offering.  

But I get it in the lower value assets of the mid west and rust belt cities wholesalers dominate because they spend 100s of thousands in marketing for those type of assets..