Brian,
You're trying to apply a commercial mind-set to a world of residential underwriting. In the world of residential lending, the assumption is that the primary path to repayment of the loan is the borrower's T4 income. That's true for the majority of the population. Single family residences are owned and occupied by the same person in that world. Those who own a few extra properties are considered amateur investors and are treated as such. Their hands are tied and they're prevented from owning too much real estate because they're assumed to be amateurs.
In the world of commercial lending, the performance of the asset is the primary factor, and not the T4 income of the borrower. There is no limit to your ability to borrow in the world of commercial as long as the underwriting rules are met. If you own 1,000 units your employment income won't fix a problem with that asset. So it doesn't even enter the equation. In the world of commercial, it's all about management and the asset.
What you're trying to do is a forced fit. The hardest thing to do is play small.
Victor.