Leverage 75% LTV, buy $2M in multi-family class B/C needing lipstick to max the rents, stabilize for one year of clean operating expenses, cash-out refi, wash, rinse, repeat.

Especially considering managing the listings, bookings, supplies, cleaning, etc. 

I am in the bowling green, KY market and the Chicago market.

He had a clean credit and background check, although he didn't actually have much credit, but his score was 700+.

We have head our heads buried in David Greene's BRRRR and Long Distance REI books and wanted to reach out to the community here to connect.

Don't get me wrong, many things to learn from this n that, I love @David Greene, @Brandon Turner and the like but wayyyy to many expect it to be like buying a McDonalds franchise; just buy xyz book/program/mentorship and now count the money that rolls in, no it's not like that at all, and I call out all the "guru" programs that promise such for the snake oil salesman they are. 

How will you handle turnover inspections and cleaning?

I purchased a brick home foreclosure and have just cleaned it out and gutted the inside of it (it needed it).

If that's the case, you can't do any renovations until you have it professionally deleaded or it would be flagged for Unauthorized Deleading and you can get fined and the property would never be able to get a Lead Certificate, only a letter of Environmental Protection that states you did illegal work, got caught, then had to pay a professional to clean up the mess.

My aim would be to financing via a 203K loan (I do believe it will qualify), rehab the property (adding another bedroom and as much add-on sqft as we can, and after cleaning up the lot, subdividing it into two .45 acre parcels to either sell at a later time, or develop and place another property.