Try talking to more than one lender to see if there are any other alternatives that may be available to you.

The other alternative is looking a little further out. 

I calculate the return on equity of alternative investments and pick the investment with the highest return. 

We're talking federal law here -- the treatment is the same for everyone in the US regardless of if you're in NJ or Barrow, AK, or Topeka, KS.Treasury Reg §1.469-9(c)(4) dictates that if one spouse is an RE pro, both are considered RE pros for the passive activity loss rules if filing a join return. 

As for the rest make sure your lender will handle that many loans if not you may have to go to an alternate source.

Heat treatment is about the only way to be sure they are all gone and it will mean the tenants won't be able to live there for several days.

@Randy Bloch From time to time there have been alternate lending products that do you have this requirement.

Also if you do purchase and renovate think about alternative rental housing. 

This sounds like a "blind fund" - but what's the alternative?

What is an alternative to a gas range that is good for cooking.