You still haven't defined what you consider to be a "crazy amount"?

Quote from @Elealeh Fulmaran: Given your skills and equity, I’d suggest keeping it simple and profitable:BRRRR-lite on SFRs/duplexes — focus on quick, clean rehabs, stabilize, DSCR refi, and repeat.If you prefer fewer tenants — consider small neighborhood retail or industrial with sticky local businesses.Next step: pick one lane, define a clear buy box, and line up financing (HELOC for speed, DSCR for takeout).

Perspective: been managing Class A-D for over 25 years, so we've learned a thing or two - often the hard way.Our lease states:1) Rent due on first, with 5-day Grace Period2) Late on 6th3) Can charge daily late fee after 10th4) Is very specific that Grace Period can be rescinded if abused (defined in lease).We've learned to leave NOTHING vague and define everything EXTREMELY well so tenants and judges cannot misinterpret!

Recently he was able to secure financing on a 16 unit with a rehab / renovation component.  

You do NOT want to overwhelm yourselves with a major renovation on your first deal.Check Major Components: As you noted, verify the age and condition of the roof, HVAC, and water heater.

A couple things stand out:- Does your monthly debt service figure include the principal component as well, because if so, that needs to be accounted for. - Closing costs are likely to be higher- DSCR loans cannot be used for distressed properties; it looks like you have the order reversed; you will need to rehab the property first, then get a DSCR loan afterFinally, the returns in rental real estate are not solely from the monthly cashflow.

Defining your buy box early will help you filter opportunities and stay focused as you grow your portfolio.

That's the key component that is usually missing when I hear other entrepreneurs/investors say they don't like QBO.Something else to keep in mind is your entity structure and how your entities file tax returns.

Since you’re starting out with partners, I’d focus first on clearly defining your investment criteria and roles within the group.

Have you defined your overall investment objectives?