@John Acklen I would stay away from going in-house on the PM front if you're in acquisition mode. 3rd party PMs will take a lot off your plate especially as you're trying to scale up.

The problem with that model is that the carrying costs can significantly eat into your profits.  

Most mom-and-pop investors bought their first property without really knowing what they were doing and they muddled through it and survived.

Large portions of that area are in solid growth mode, but it doesn't take much to get to some sketchy areas. 

The updated moratorium, should it survive the inevitable court challenge, ends in October, and that you were going to honor the lease until the end anyway so that part shouldn't be a problem.

@Prasanna K.The issue you have in this model is that the CPA will need to take the time to review your return.

If this credit union will do it, great for you.When you’re in acquisition mode, don’t forget to keep healthy reserves.

Rental demand may also reduce since people may get into buying mode than renting mode due to affordable home prices?

@Daniel Brown while I don't know if any blogs, posts, or books, I can tell you it's VERY doable as that is the model I follow.

Once I feel I have enough in reserve to survive the next cycle I may get a bit more aggressive with the rehab.