Yup, but lenders want to put their money in the hands of guys who have a proven track record of success, not guys who are buying their first deal.  100+ units are much more complicated than just being able to do the basic analysis -- the real world issues that you'll face (management, local politics, local economic changes, cash flow forecasting, etc) aren't things you can read about...you have to experience it to understand it.Also, it's very uncommon for lenders to put up more than 80% of the money -- they know that if the deal is good, you should be able to find the other 20%+ pretty easily, which will reduce their exposure.

I question this because I wonder how many weeks or exposures  they paid for? 

I don't want the dog to bite others in the building and then there will be 3rd party liability exposure attribute back to the landlord in case there is a lawsuit.These are my concerns, am I worrying too much?    

@Phillip Faries , the cash flow amount sounds great, and there should be very little to do in managing a condo, plus the equity is a bonus!

@Rav Ram Call an attorneyCall an attorneyCall an attorneyYou need to protect your 401k from IRS exposure.

Ditto kids and their piles of unused toys.Formal dining rooms and "bonus" spaces are so last century.Where we once chose to test the limits of the planet's resources by (quote the pope here) "breeding like rabbits," we now limit our offspring and thus need fewer bedrooms.Where most of us once had giant SUVs taking up space in a big garage so that we could burn expensive fuel and hours of each day commuting into downtown from the 'burbs (the only place where we could fit all of these toys), we now own bicycles, bus passes and own/share sensible small electric vehicles...

Focus in on the location of the building and more specifically the location of the unit (I.e does it have southern exposure, faces parking lot rather than trees, etc?)

Great plan to get started in real estate investing, and being able to use FHA money is a big bonus too.

(bonus) How do you price your management pursuits? 

Other than not touching the property, is there any way to limit this liability when they find a causal link between trace meth exposure and, say, birth defects or cancer?