Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

I am looking at doing a cash out refinance / portfolio loan for 25 years at 7.5% interest on 5 of rental properties. 

Monthly rental incomeFirst, let's calculate the mortgage payment:1.

I know there are some restrictions on short term rentals (1 month min.) in the area but I believe even doing 1 month rentals at a minimum, the financials of the deal still work.

So, owners force PMCs to only effectively advertise their rentals on their own website, the Zillow group and whatever their PMC software provider syndicates to.This wasn't a problem the last 5 years or so with the crazy demand for rentals, but consumers are getting tapped out and Days On Market for rentals has increased 37% in the last 2 years. 

Land is unrestricted and not land lockedI’ve already got one rental and my current house will be a powerful rental.

The guy with 40 rentals?

I'm not in the short term rental business but if they are independent contractors then you don't owe them anything.

Make sure you thoroughly read the CC&R's because many also have restrictions on rental (% of owners that can rent, length of term, approval prior to,no short term, etc.).

If you’ve never owned a rental before, I’d highly, highly, highly advise staring out much smaller than 13 million and 100 units, and frankly unless you have 13 million in cash no bank is going to lend someone with no experience 13 million dollars, I’d start with multi family in one of three places, a class Baltimore, canton, fells, Fed hill etc, Frederick or the eastern shore of Md all of those markets are somewhat affordable have good tenant mixes and a relatively safe, see how it goes, if you like it, than buy another 2-4 unit, than another maybe once you have 8-10 units if you still like it, still are making money than go for something bigger.