Once you can get an idea of the life expectancy of major components and appliances you can develop a more accurate CapEx reserves requirement.How old and in what condition is the property?  

I am adding a land component to my business.  

Choose the path that is the most closely aligned with your goals and just plan to dominate that method and then go from there. 

Hi @Brett DawsonMy suggestion here would simply be to align yourself with a portfolio lender who can provide you both acquisition funding as well as a portfolio loan.

@David Espana As others have noted, the return is not aligned with the risk on this and the interest rate being offered could be had for a first-position loan.

In my opinion, it is a lot of work to get the brokers license and then property management business model (as typically done) doesnt align the managers interest with the owners which tends to lead to management companies running on as small of a staff as possible to serve their owners somewhat marginally.  

I would say better to have individual components.

Usually there is a dividend crediting component on borrowed money.

Align yourself with people that are where you want to be in business.

As @Andrew Johnson said, there's an educated guess component to it.