What I have illustrated here is how an appraiser must go about analyzing and adjusting the subject and comparable sales for differences between existing housing stock where none is identical in a mortgage appraisal.

As a beginner, committed to translating all the head knowledge gathered to date into actual rental units and real 💰, this was gold.For seasoned investors, he gave a quick way to check in and make sure you are on track.3 key takeaways for me were his illustration of the domino effect, dead money vs.

The chart below illustrates this point beautifully.

Can someone illustrate what a good or home run deal on a multi-family property looks like?

Can someone illustrate what a good or home run deal on a multi-family property looks like?

When issuing an Owner’s PolicyWhen issuing an Owner's Policy some underwriters will waive the requirement for a current survey (within 90 days of closing) and rely upon an older survey, provided that the following conditions are met: The subject property must be platted, single family residential; and A satisfactory, prior survey of the subject property is submitted for review that illustrates the boundaries of the platted land and the location of all improvements situated thereon; and The prior survey is certified by the surveyor to any prior or current owner, mortgage lender or title insurer; and The seller must furnish a satisfactory affidavit setting forth the following facts that must be based upon the personal knowledge of the affiant: There are no improvements currently located on the subject property that are not shown on the survey.

@Joseph SchommerIf your premium is $23,550, then your illustration should be showing end of year 1 cash value at ~$20,000 give or take.

As these local investors illustrate, high-level demographic information can be terribly misleading. 

Shiloh,  I appreciate the time you have taken to illustrate this point,  I do see what the difference sound counsel and the impact of using less of my money can have along the journey.  

Here's a few examples using your projected $1,200/mo rent to help illustrate:- Example 1 = Tenant moves in on June 1st.