I have to do a little more due diligence before I feel comfortable with sending them any of my personal info.

If you’ve never owned a rental before, I’d highly, highly, highly advise staring out much smaller than 13 million and 100 units, and frankly unless you have 13 million in cash no bank is going to lend someone with no experience 13 million dollars, I’d start with multi family in one of three places, a class Baltimore, canton, fells, Fed hill etc, Frederick or the eastern shore of Md all of those markets are somewhat affordable have good tenant mixes and a relatively safe, see how it goes, if you like it, than buy another 2-4 unit, than another maybe once you have 8-10 units if you still like it, still are making money than go for something bigger.

Anything under 12.5k sqft I’ve found that the fixed costs are too much to achieve that 35%.40,000sf: This is just a personal rule of thumb where currently I’m trying to stay away from the spaces where the institutional players are operating (if I can).

These same owners also have no problem paying an attorney or CPA $150/hour or more.Many owners also don't respect their PMCs and try to treat them like a personal assistant at their beck & call.

In order to undertake a new build I would have to personally know the builder and be comfortable with his work.

Think there will be any banks that go out of business in next 5 years, think any are going to have real estate issues, think any will merge or have a takeover?   

If you have cash, know that 99% of wholesalers will have low repair values and high ARVs that don't match the actual data or upkeep of the house.Also, ask if this is being daisy-chained, meaning are there other wholesalers or investors in the line between the person offering you the deal and the seller.

I personally would approach this with a self assessment.

I have yet to find a bank to finance a twice moved manufactured home (I live in one).

like - your own market. or a market a couple hours away that you can spend some time in person in. or where you went to college. or where you like to vacation.