@Ronald Cooperman with that many units, your life will change DRAMATICALLY if you get off Excel and onto a proper management software suite.

You'll dramatically improve your chances for success if you have a GC invested in the projects overall successYou'll also want to get a good realtor who can advise on whats popular in your market for finishes, color schemes, ect  Last but not least, find a great home stager and stage the home prior to selling. 

At 80% ltv our loan amount is going to be be 880k and in the jumbo category (which dramatically increases the cost of loan)Our goal is to cash out as much as possible, so we can moved out of this property, have a cash flowing deal and do it again, but don't know what to do, and don't want to pay the steep prices of a jumbo loan.

I don't think they would spend all their money that way (though I get your point politically), but what *would* happen is the frequency of rent not being paid on time, or at all, would jump dramatically.

We live in a high cost of living area, saving to purchase property outright would have dramatically limited our ability to grow.

I don't need/want my insurance company to be involved in every minor defect the house goes through, I just need the insurance to cover catastrophic loss like a fire taking the entire building.Of course I also don't live in areas that are prone to hail, flooding, tornados, or any other dramatic weather conditions.

You have to add in your monthly mortgage payments and obviously that dramatically lowers your profits.

At the end of the day, I am a buy and hold investor so I am all for accumulating as much properties as possible as long as they are profitable otherwise you will be supporting that property out of your own pocket every month, which limits your growth dramatically. 

@Jason Thomas, there is a good chance your maintenance and Capex are dramatically low.  

This new world will allow the REI to:1 - Pay more than the asking price2 - ...and at the same time, pay less for the property, and...3 - Make a much higher return (cash flow or profit),...much faster than using the simple strategies most REI use today.Bonus:  Since this knowledge is used by a minority of REI, the competition for properties (deals) is dramatically reduced.Bonus, Bonus:  ...and, the economy, and trends in the market, market direction, property value directions, etc...matter not.