So we started a buy and hold rental business a little over 3 years ago and have 23 properties. Bank keeps lending us money and basically the debt is scaring me a bit and im like i have no business doing this and its g...

@Peter Francis I do the same exact model in Chicago.

All manageable as long as you build in these numbers to your models or use some methods to minimize this.

We found a contractor through friends and followed the BP model.

Interested to hear more about your companies model. 

This means: 1) all properties need to be acquired significantly below market (hard, but not impossible) & acquisition should be all cash so you're not paying interest during a potentially lengthy rehab 2) rents need to be high relative to acquisition price (1.5-2% rule, also hard, but not impossible if you did well in #1) 3) you need to budget for reserves and have access to non-bank lending to scale (both need to be incorporated into your business model for long-term viability) If one can't do all 3 of the above, it may be better to buy rather buy & hold with low leverage in a market likely to appreciate.  

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Traditional flippers can adjust their model just a little bit to grow into this strategy. 

One thing that helped me early was building my own spreadsheet/model to understand what my IRR/NPV/Cash-on-Cash/and cash flow were projected to be.

Two identical models/footprints I looked at:A -  2 beds 1 bath.