The two biggest drawbacks for me in buying a townhome are the HOA dues and how much is in the sinking fund.

Is there a formula based on revenue that is generally accepted?

My biggest take-away from it all, was just make a move; do something; find a deal.

Not so much because of their terms, but because it's been the biggest headache of the entire process.

The biggest thing you can do is work on building your network.

One of their biggest issues was that they were not on town water and sewer and were going to have to dig a well to service the showering and restroom facilities as well as build s septic system to handle the proposed traffic.

And two of these are my biggest money makers so it was worth the risk.

As long as you have the $$ (outside of the HELOC) for 20-25% down, you can keep on buying houses, cash, with this strategy.As you've already realized, you biggest roadblock here will likely be just finding a decent deal here in Atlanta.

The biggest fear I would have if I were you are the unknown-unkowns of someone who has never done real estate before.

Biggest thing is that a good investor-focused broker should be asking about your long term plan, and helping you use lenders in a strategic order and getting you the right mortgage terms (it's not just about rate) so you can carry out that plan.