If you have access to $30k homes, can afford the costs of renovation and the costs of the resale while remaining profitable you're only a "friends and family round" away from being in business.This is a sum of money that banks are just not going to write short term debt on without excellent credit and collateral.

The grittier matters of concern is likely to be your mortgage rate and consequently your monthly payment and other monthly expenses and to what extent these expenses are completely covered from rental income (think debt service coverage).When researching, you of course want to look into the FHA loan limits on a multifamily as it applies to you and where you are able to buy in/at per the limit.

Once you have that income number in place you can then look at expenses and debt service on the property and determine if it makes any sense.

Hello BP, sometime ago i read "The definitive guide to using seller financing to buy real estate", and only thought that to prevent due on sale clause, that would mean i can only used this method on debt free property.

But my ultimate goal is to apply the buy and hold /"BRRRR"(buy,rehab,rent, refinance and repeat.)plan to Achieve my financial freedom .Well, taxes are an expense you take out BEFORE debt service; that is, it's part of the NOI (Net Operating Income) calculation.

For those who have a primary source of income that can support the debt, a loan might still be possible. 

Banks know there are investors out there so unless your debt-2-income, credit, over-leveraged (multiple mortgages perhaps barely making payments), then I don't see that the banking industry sees an issue.

I am a firefighter and started a second full-time job with purpose of increasing income so that I can buy more property, reduce current toxic debt(any debt that doesn't pay for itself) and paying off the 3 rentals that I currently have so that I can take and borrow on them again to buy more rentals.

It would also amend the Truth in Lending Act with respect to minimum standards for residential mortgage loans, to prohibit, in determining whether a residential mortgage loan is a qualified mortgage, from applying to loans originated by such a person certain guidelines and regulations relating to ratios of total monthly debt to monthly income.

., the court found that in determining unconscionability, the trial judge may consider: 1) the amount of the proposed rent increase; 2) the landlord’s expenses and profitability; 3) how the existing and proposed rent compare to rents charged at similar rental properties in the geographic area; 4) the relative bargaining position of the parties; and 5) based on the judge’s general knowledge, whether the rent increase would shock the conscience of a reasonable person.In my opinion if you're basing the increase on market conditions and not on trying to take advantage of anyone or increase the rent as a way to eliminate a tenant you'll probably be fine.