Keep in mind, by adjusting some items like loan terms, down payment, closing costs, etc, you can "manipulate" other metrics so be careful

I would suggest that you develop a relationship with a local public adjuster now - before something happens. 

@Yasmine BisumberI'm in the same boat trying to expand to Florida and have almost identical questions about Florida as well as insight into GA from a long term resident's and now investor's perspective. 

If you can walk away with 10k when everything is said and done I always consider that a success...maybe it could have been more and next time you'll make adjustments and carry on.I also agree with the previous thread...you make your money when you buy.

The area is all boxy, mid-1980's roughly identical fourplexes.

You can always make extra payments to pay off the loan in 15 years.This will increase your cash flowdo not accept a loan with a balloon or adjustable rates.

Your AGI (adjusted gross income) is what the underwriter will look at for the past 2-3 years if you've been working in the same industry.

I'd like to have 12 units by then to help offset the significant pay "adjustment". 

The 2 loans may have identical terms with a portfolio lender, that doesn't make it a heloc in a purchase transaction. 

I recommend a roof consultant be involved with your asset to obtain a current condition report and they will usually work with any reputable contractor to be sure that the adjuster is giving you what you should be getting on the repair/replacement of your roof.