still looking for next deal

my last multi family property was purchased in may of this year...rehab was completed about a month later in june and the property was fully rented as of july

 since then i have been looking and bidding on several multi families north of boston with no luck...

 i currently am sitting and waiting on 4 short sale deals a 

 today a friend of mine calls and wants me to look at a deal and wants to partner up on 3 decker property with him...he says he has an in with the realtor...we'll see...the property came on at $132K...i went to look at it and it wasnt that bad, a broken pipe or two, needs 2 new kitchens and 2 baths, every room needs to be painted and we'll shine all hardwood floors

 we put a full priced offer in and we are waiting to hear back from the bank

 after about $30K in rehab work, we will rent the 2nd and 3rd floors for about $1100 - $1200 and keep the 1st floor open for a month or two for an owner occupied buyer, should be able to sell for $250K