The mortgage will be a non-recourse loan, which means that your personal assets are not at risk if the borrower defaults on the loan.The overall BRRRR strategy involves buying a property with SDIRA funds, using a PML or HML for rehab, renting it out for income, refinancing to retrieve the initial investment and equity, and then repeating the process with the acquired equity.

Credit above (700) Fannie Mae easier on guide lines and finally Freddie Mac almost mirror image.FHA will allow higher debt to income ratios for DTI. 

Lease dates, income, expenses? 

When eyeing multifamily investments, you’ll likely encounter two key metrics – cap rates and gross rent multipliers (GRM).At first glance, they seem similar, but there are some important differences between the two.The GRM simply divides the purchase price by the property’s total potential rental income–it doesn’t account for operating expenses.Cap rates, on the other hand, factor in both income AND expenses to give a more complete profitability picture.The main advantage of cap rates is their ability to evaluate better and compare investment returns, risks, and value.

Before taking the plunge, honestly assess your finances (income, debts, savings, and risk tolerance) and research your chosen market thoroughly (rents, vacancies, property values, landlord regulations).

(DSCR = 4.59) for the portfolio [Annual Net Operating Income / PITI]; and4.

If you want to think really big, go commercial multifamily, double the net operating income and the property value along with it. 

*IF* you can claim RE professional status - and this is where doing your own management comes in, if one of you doesn't have a regular W2 job - you can realize some major tax savings, especially because you can deduct any losses from the RE side from your W2 income.

His $300k annual income well exceeds his cost of living even after tax.

(used to be 25% nets )  Again you can buy a duplex that will have about 12- 13k NET income on gross of about 20k, with an all in PP of 108k,,,, thats about 12% net based on a cash purchase.