It's indeed common for lenders to require 2 months of reserves for loan payments on each property as you expand your portfolio.

When it comes to PM, your number 1 goal in the beginning is going to be adding doors.  

Additionally you want to model out a vacancy period at the end of each lease term, to be conservative. 6-12 month vacancy factor is common.

However, if the numbers don't align with your investment goals or managing the property from a distance proves to be too challenging, wholesaling the property could be a reasonable decision.Ultimately, it's important to weigh the financial returns, your investment strategy, and your comfort level with managing properties remotely.

My goal is to start wholesaling then build a 500+ door business.

If you rent it by the room, I'd also hire a cleaning person to come in every week or two and clean the common areas as well as someone to cut the lawn. 

This might involve a legal action affecting ownership or liens.Given these possibilities, the most common interpretation in the context of property transactions might relate to recording or representation rather than a specific type of transaction like a Quit Claim Deed.To determine if there are liens on the vacant lot you've won, consider the following steps:Title Search: Conduct a comprehensive title search through a title company or a real estate attorney.

I thought this was a fairly common practice but it sounds like it's not.

I understand that navigating the minimum loan amount restrictions can be tricky, but Chase is known to offer financing solutions that could potentially accommodate lower loan amounts, possibly even down to $50k, which might align well with your investment goals and the price range you're interested in.If you haven't already, reaching out to Chase could provide you with some additional flexibility in your property search, allowing you to stay within your desired price range and maximize your monthly cash flow from the investment.

If you’re getting a salary, you can bet the payouts are going to be really, really bad and the goals are going to be tougher.