Private lenders (institutional) wil underwrite to the property's income or, if the is an issue, there are a growing number (still only a few) that can offer long term loans simply based on the asset and LTV.

Rightly discerning her anxiety helps me understand her definition and position concerning risk, which is different than my tolerance of risk because of our personalities and life experience based on what we saw in our parents while growing up.Understand, my intent is not to "close" her like a salesman in order to get her to side with my position.

IMHO, I think that the first home in your portfolio is going to determine the strength and ability to grow as time goes on.

Athens is a great town and practically a suburb of the 4th fastest growing metro in the country.  

They are still growing their business.

Or there is a version for 2 to 4 unit small buildings as well but then down payment grows to 25%.Or if you agree to live in it for 12 months you can do it as an FHA 203k rehab loan with as little as 3.50% down on 1 to 4 unit properties and use future rents to qualify for the loan size needed.

This would classify him as a builder/dealer and hes going to pay ordinary income on the income from the construction sales. 

My concern for you would be exactly that - building it so big that it does turn into a monster you can't manage or grow, because the business systems aren't set up optimally.

We have supported as lender when folks purchased for $17,000 and sold for $30,000 same day.The flipping, land lording might need some cash of your own; even though you can get lender involved for portion of it.There are other tweaks and variations on real estate; which you can explore as well.See what works best for your situation and change as you grow.

I, personally, would like to grow my business and at the point I am at, I basically need to start a property management company to accomplish this.Seems like a win-win scenario if properly structured.Any input would be greatly appreciated.