You have to also account for all the additional repairs and costs that would go into all the units to make it rent ready.

I agree with your accountant that leverage is a better use of your money for buying rentals. 

They include a great lawyer, accountant, electrician, good plumbers, good handymen, these are the people I call on to help lend a hand when needed as well as my wife who handles all of the financial aspects of our business.  

2) If it is, how can this be done and how does one calcualte the costs involved in switching between loans like this? 

When you have decided on yout for sure niche  you could get an attorney (tax accountant) or a CPA to help you with your business type.  

@Anna Greer You've got two knowledgeable Local guys here with the scoop in @Aaron Linden and Account Closed you've got some really compelling evidence here that we're definitely in the right place for continued growth.

The good news that I forgot to mention above, is that we negotiated three months rent up front, so no matter what, we have 1/4 of the year accounted for.

@Dottie Matheson,You can find a few of us accountants here who can help you and answer your questions.

Account Closed  Thanks Nick as always....Adam and I actually connected earlier in the week and his locations are tough for our coverage area!  

Account Closed thank you for the invite, I'll check it out and hopefully be able to make it.