But if my friends and relatives are all under the impression that the Tesla Cybertruck will cost in the neighborhood of $120K, then I think it is a safe bet that my tenants will feel that way as well.

Hello, I am a wholesaler who is currently looking to up my game and impress a big fish cash buyer that I know. 

Michael,That is quite impressive 130 units! 

I've been impressed by First American Exchange although haven't worked with them yet.

So this whole time I have been under the impression that you can get conventional mortgages on rental properties without occupying them yourself, I already own two houses but they were paid for in cash so this will be my first time borrowing but I spoke to my banker and he said that if you do not plan to live in the residence 60 days after closing that they must me financed as a commercial loan, he said this is not a bank policy, but a Fannie may or something like that, I would really light some insight on this because I am new to the world of lending and 5% down and lower rates sounds way better than 20%, thanks

This creates an impression, that we are creating quality and value in our neighborhoods. 

I have a home in Hawaii which I purchased in November 2019 under the impression that it would be my forever home (RE investing wasn’t something I knew about).

Finally, given that I will be my first purchase, it seems like the loan approval for the property would reduce the number of ways where I can screw up.However, I recently came across some stories where people buy ~$15k houses and do impressive renovations (roof, floors, kitchen, bath) for ~$15k due to the fact that those properties are in less populated areas and have cheap rehab costs.

I am very impressed with your background.

All in all my confidence level as a rehabber, General Contractor and Investor is stronger as I was able to deliver and the bank was impress with what I have done; they guaranteed approval on my next project once the building has sold which I already bought the next property which I found on FB marketplace.