Please stop referring the rules and regs as a loophole.

Take notes to reference later.  

@Ben Capone Thanks for that reference!

Exit strategy and appreciation potential in a market like , PA, which is a smaller town with modest appreciation.4) is there any tools or metrics with average I can refer to to analyze this.Would love to hear thoughts from anyone familiar with similar markets or multifamily investments.

I’m trying to get a better understanding of the unlevered IRR hurdles SFR / BTR investors have for value-add improvements.By "value-add improvements" I’m referring to upgrades made to a property that increase rent or purchase value, often including kitchen remodels, bathroom updates, solar and other energy efficiency improvements, fresh paint, a new garage door, finishing a basement, adding a deck, and updating flooring, to name a few.I’ve been hearing a lot of different reactions to this question the last few months.

Can I reject on income and lack of rental references?

It's a risk-reward proposition and for us here in Columbus, I see a lot of saturation with STR, but we have very high demand for MTR so most of the properties in our portfolio wind up being mid terms. 

@Dave FosterThis is the expert you refer to.

@Kenneth P FordRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Quote from @Jay Hinrichs: my advice is to get some cash first.. dont be so focused on super high leverage. do seller finance first .. forget sub too until you are very well established and have ability to cash out the loans or refi on a moments notice @Don Konipol  Don gave you chapter a verse about the sub to risk/rewards.