Now we are at 7 houses and counting.

So, you would have 82K in it, not counting closing cost, before any renovation, on something that's worth 100k?

@Jeff Greenberg Every step counts!

This way you have one or two people you can count on ahead of time to be there when you need them most.

I know not having a regular job is going to hurt me a lot, my 2 long time rentals are more than 2 years so I can count on that income to be counted, my vacation rentals are 1 1/2 years so not sure how that's going to play out with certain banks. 

The cash method accounts for revenue only when the money is received and for expenses only when the money is paid out.accrual method:  Under the accrual method, transactions are counted when the order is made, the item is delivered, or the services occur, regardless of when the money for them (receivables) is actually received or paid

Count me in.

My wife and i have been saving to buy a multifamily here in Rochester NY and i would say we are counting down to viewing our 100th house, fired one realtor and hired another, made offers and have been rejected, the most recent which almost got us down as we had the highest offer but the seller went for a cash down payment but we are still searching (may i add we having been searching for over 6 months now).

. :)It'll be worth your time to have them working with a minimal overlays lender that can count departing residence rental income regardless of equity position or prior landlord experience. 

My property manager came up with the idea of marketing higher, then offering $25/month less for a 2-year lease (penalties plus $25/month owed back if they leave early), and these people took it, so far over a year and counting.