Have you considered bringing your terms to a local bank and seeing if they will match? 

They are also known to mismanage money, which can result in huge assessments for common area improvements.

In my initial analysis, if I would have to bleed a property of 2-3% extra in property management fees or I would have to pay $150 extra every month in either utilities or the mortgage just to make the deal look "decent" to match my criteria, I can pretty safely say the properties numbers are to far from comfort for me.

When including property management (not built into seller´s NOI), and financing at 3% 30 yrs. 20% down, the purchase cap rate results at 4.42%, CoCROI results in 1.63%, and monthly cash-flow at $1,626. 

And another 8k from the 401k from the old company I worked for that’s no longer getting matched.

You would add up the rents from all four units, subtract all eligible expenses, subtract depreciation, and look at the result.

We state on the notice that failure to respond by X date results in default of option 2. 

This can happen a lot faster, but better to be pleasantly surprised by a better result...

It takes time, hard work, and consistency to see results.

How long have you been in the program, and, if you don't mind me asking, what results have you had from it?