I really do recommend getting some formal training/support.

Not too often would they send you some type of formal approval.  

Doesn't have to be major if it's family and friends, but you still want to be as formal as possible when it comes to these things so you don't end up losing friends later over something silly that could've been drafted into a contract in advance!

Doesnt have to be too formal - just something with your rough goals, strategy etc There was a good biggerpockets article or blog post on this the other day.

However, the most frustrating thing to all of this is that banks can put extra rules on top of what the formal guidelines state, and that's why we have so many different stories in my industry.  

The formal definition of price-to-rent ratio refers more to just knowing whether it's smarter to buy or rent a place to live in a certain area, but when used for rental properties, that's where it comes in.

The request was to get a business account opened at a bank...big difference in a formal OA and getting your account started and inserting your attorney approved OA once it's drafted. 

They MUST formally evict you through the courts.

However, you most definitely do not have to go through a formal university education specifically in real estate to be successful.

If anyone’s interested, DM me and we’ll get the next formal in-office meeting on the books...or zoom.