And what would you say is the number one bottleneck in this growth - cash, your time, access to people who can take proper care of your assets, something else?

They blew up our loan with 2.5 weeks to go by not properly disclosing fees, the broker was hard to reach, didn't get info to us as he should have and at the end was going to charge additional fees for a return trip appraisal because of their own error in not disclosing the lender requirements for the appraisal. 

If the property managers have been properly building a financial reserve for CapEx and Emergencies, do those transfer over?

Be sure you underwrite the borrower and do all the proper disclosures otherwise the borrower can rescind and you could be forced to pay back all the principal and interest payments. 

Still up to me to properly utilize it and get the deals contracted.

Pair those yellow-envelope mailers with light follow-up calls or texts a few weeks later, owners often respond after the second or third touch.

So I would start with interests you, what strategy would you like to pursue and then pick an asset class and pair it.

Are you properly licensed to be a 3rd party manager in Tennessee?

Pair all this with a tax pro to ensure you meet material participation tests if you plan to offset W‑2 income.

Pair the LLCs with strong liability/umbrella insurance and choose a CPA experienced with real estate investors and multi-state filings, especially one who understands Alabama rules even if they’re not located there.