I definitely worry about this alot as well as the outdoor pool at the resort! 

It needs a new pool resurfacing, roof, and then cosmetic lift so it will be closer but I have some room for error as I am going to do some of the work myself.

Cash buyers won't be affected -- they may buy more since the buyer pool for second homes and vacation rental condos will start to shrink and prices may go down. 

“The policies will take effect for loans submitted to Fannie’s loan delivery system on or after April 1, and for loans delivered into MBS pools with issue dates on or after April 1."

@Matt Fischer, It's the deep end of the pool and incredibly complex (and translate that expensive) process that the IRS isnt entirely on board with yet.   

Also, with 5 initial purchases behind me, I could then pool all net positive cashflow + any profits pulled from the cash out REFI on each property + an disposable personal income I am willing to commit to the effort and buy potentially 6-7 houses inthe second round.

I’d like to build an applicant pool and interview to find the right fit.

Maybe have a decent sized pool of cash to take care of the occasional roof repair or personal expense, but almost entirely in real estate?

In essence, regardless of what a lender's investment property deployment was, it now has to be 7% or less of their lending pool. 

When we have excess investment property loan production (over our 7% quota) (which we will), he will take pools of loans to the non-agency securitization market.