If you're a newbie investor with decent credit and enough capital to put 20%-25% down you are in a great spot. As 30 yr mortgage money is CHEAP and the price of foreclosures are CHEAP. So at a mimimum go buy 4 properties and set yourself up for the rest of your life.
If you chose to buy more you can get loans #5-10 done but it will take time and a lot more people will need to look at the loan. The extra pain shouldn't stop you but just know loans 5-10 will be tougher to get.
If you own more that 10 properties or you try and buy property 11+ go luck. The traditional lender market is all but shut down for owners of lots of property. So buyers with a lot of proeprty are turning to hard money lenders and paying high rates with lots of points but if the deal works with the high rates great because sometime in the future you should be able to refi out of this loan.
At some point this will change but it might take awhile. So guy buy what you can and always keep fighting because if the deal is good enough you can always find the money.
Good Investing
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