That may change if the market shifts considerably to a overwhelming buyers market. 

So taking that into consideration, you'd be calculating a LOT of deals, and I mean A LOT, before you ever actually had to have any numbers to reference. 

What if the option consideration fee alone wasn't enough to qualify for a down payment to begin with?

I am thinking that KWC might be difficult to find in my price range as it seems to have risen considerably in price...Hamilton seems more affordable but I also hear a lot more negative things about the city. 

I would only borrow as much as you can comfortably cover with the rent on the first place, which may be considerably less than what the bank would allow.

@Anthony Musolino a four unit and smaller would be considerably easier and doable.

Hey Steven, am currently analyzing several deals in the Tampa area and while that's a real consideration, mitigate it by building in the necessary buffers.

The lease involves rent, and the Option Agreement involves Option Consideration (the cost of the Option Contract). 

Columbus is definitely a solid market, but I did notice that it tightened considerably, even within about 6 months of my purchase.

We're both willing to personally guarantee these loans initially, but would like to be able to build our business's credit to be able to eventually (several years down the line) take out loans without our names on them.We're both in a place financially where we're comfortable not taking any money out of this business venture for the next several years - rather we're both looking to invest considerable amounts of our own cash towards our available capital initially and each month.