I don't have a particular property in mind, hoping for a 'rule of thumb,' so to speak, that I could apply to future properties. 

I am looking into first creating a non-profit for purposes of acquiring, rehabbing distressed housing; then renting out rooms to seniors/55+

Nowadays I prefer an asset based lender who will lend on a percentage of the purchase price (usually 80-85%) if it makes sense for that particular deal. 

@Eric Fernando You should start by looking at the county property appraiser website and check out the neighborhood and the zoning for that particular property.

I also have some other money that I put aside for REI but it's only around 40K at this moment. we have bee looking on new constructions in Chula Vista and one in particular that has 5-7 BD from which 3 of them are on the third floor.

I am particularly interested in purchasing small multi and single family rental properties in Washington DC area. 

They will take more non conforming loans and lend on the cash stream of the property/ asset. 

If you're still mid-career and looking to simplify both your taxes and your business structure, I'd start looking into creating the brokerage as an S-Corp, leaving your particular earned commissions in and pulling a salary from the brokerage. 

Non-fiction - no end to what I listen to here.

My property manager is currently on vacation so I'm posting in this forum to see how others have dealt with this particular issue.Thanks!