Margins seem low and the risk seems high.

Some strategies to get around are:1. leverage your current portfolio and buy in cash, increase value, and then refi2. buy Multi-family so your ratios aren't the main factor to lenders3. get in with a lender for high net worth individuals4.

Off street parking is typically more important for high end/expensive rentals.

There are numerous threads about sub to and many investors believe it is a high risk strategy (especially for seller) and believe buyers who use it “take advantage” of naive sellers.  

My income doesn’t show itself as being very high, but I have a relatively large amount of cash to put down.

Even if you tell me they are paying cash or very high down payments , shouldn't the price of multifily  buildings reflect its NOI/cap rate? 

Some high and lowlights:- I had one tenant that brought German cockroaches in and then blamed it on me- Same tenant asking if her daughter can visit but failed to mention it was 5 more very noisy people- another tenant having constant loud arguments with his gf- tenant saved some of my stuff when the house flooded due to a pipe burst and another time during a monster rain storm.

I'd keep 70% as a base and shoot for 90%+ on the high end.I think I'd be pretty happy with 90%. 

Thoughtful upgrades and efficient project management made this a successful venture, highlighting the strength of our partnership and commitment to delivering high-quality results.

If you really like the place but you feel that it is priced too high for your budget, instead of saying “it’s priced too high” and insulting the seller, simply say “I absolutely love your place; it is exactly what I want, and I’d really like to buy it.