Exceptions to the 1% rule?

[Grayson Gist]

I found a fourplex that is in fantastic shape. It cashflows only $600 a month, realistically $300 a month after repairs and vacancy. But the seller is willing to finance the downpayment. I could use an FHA loan to purchase it, but it costs the same to do the commercial loan. Is it alright that I’m going to cash flow less, but my equity will be significantly higher each month?