Its a lot easier to have a cushion when your properties are averaging 400 to 500/mo net cash flow versus 150 to 200/mo net cash flow.But would you rather take on that risk and have 20 properties or 30 properties as opposed to 3 or 4? 

Portfolio lenders are lending the banks’ own money versus selling the loan to Freddie Mac/Fannie Mae so they have a lot more flexibility and can loan to LLCs if they decide to.

You need to understand how to analyze things like loan-to-value, the impact of choosing a loan in a judicial versus non-judicial state, etc.

Assume that $200/unit is average real cash flows (versus what the sellers will claim).  5 Units is $1K/month.  25 units to hit $5K/month which starts to be impactful but likely still a long way from quitting your W2 Job.  50 units for $10K/month and maybe having a real chance to quit your W2 job but probably not seeing that you are living in San Diego.  100 units for $20K/month which may suffice for giving up the W2 jobs. 

You also would only take one hit on your credit rating versus two.5.  

@Julie Ferrier do you have the operating expenses to see what the tenants pay versus landlord?

Thanks @Mike NussI spent some time poking around the OEA site, and came across the following article: https://oregoneconomicanalysis.com/2017/12/14/why-...It mentions that the housing starts across the state will increase from 24k/year to 30k/year to account for migration and what appears to be a miscalculation of shortfall since the recession.From that I'm more inclined to believe in the slowing rate versus a drop in the near term.

My idea with long distance was this:I have an uncle flipping houses in Ohio where houses are MUCH more affordable for someone like me versus here in Cali.

. ;-)I don't know if any of this helps but the one thing I do on every transaction is show people what they walk away with if they use a real estate agent and pay those fees and carrying cost, versus that I don't charge fees and I take over the costs immediately with a flexible move date for them.

And do you recommend driving for dollars versus a direct mail campaign initially to get started?