I consider expected improvements as a discounted bonus because I can't count on cashing checks for rent increases I haven't passed yet.If the free cash flow looks good I'll worry about capital requirements, basically is the deal too big for me to handle.

We need to count our blessings for sure.

Make sure you are counting all of the expenses and be conservative- bc repairs don't come out $50 a month.

Not sure whether you inherited buildings free and clear or with loans, but if the properties are owned free and clear they wouldn't count in that 5-10 limit.Here is a summary of how the financed properties are counted:The financed property limit • Applies to the number of one-to four-unit residential properties where the borrower is personally obligated on the mortgage(s): • Applies to the total of properties financed, not to the number of mortgages on the property or the number of mortgages sold to Fannie Mae; • Includes the borrower’s principal residence if it is financed; and • Is cumulative for all borrowers (though jointly financed properties are only counted once)

If I make a private loan the interest I make is counted as income on my taxes, are there ways to reduce or eliminate the taxes I must pay.Thank you ,George

Don't count on rents improving or prices declining to a point where they make sense for a cash flowing rental. - not likely to happen.

Would those count towards the four they want to allow? 

First thing that comes to mind is whether the conversion was permitted...otherwise you cannot count the square footage (and room count) when you market the property. 

Your IRA and 401 K may be used to count as an asset but the bank will want to see cash reserves in an account that has seasoned for a while.

i prefer buy an hold but i counted 22 homes from PA line to buffalo.