@Mindy Jensen That makes sense.  

Keep in mind I would be trying to close this deal quicky, without giving up too much margin, so that I could move on to the next deal. 

Maybe @Mindy Jensen can help us out?

One thing you want to keep in mind is that banks will count any mortgages you have against you when you apply for your 2nd property.

In reality my mind is sayingRUN, RUN RUN.........Its true that you can get the same quality job from a low bidder that has less overhead.

Mindy Jensen, Mark Fergusson,

I honestly had to look up where Rankin was on Google Maps and I have lived in Pittsburgh for 38 years :) That whole area beyond (read: east of) Homestead and Munhall is "places near Kennywood" in my mind. I

Therefore, the main thing to keep in mind is that even if a market crash happens on the same level as the 2008 financial crisis, in the long-term (5-10 years), you will still be in profit.

Something to keep in mind is that we are in late stages of the cycle, so you may only want to borrow 70 percent of ltv.   

One idea I always keep in the back of my mind is one quote from Ross Perot, where he said if you want to make a billion dollars in real estate, buy in the path of progress.One thing you might want to consider is using a property manager if you buy multifamily and want to live in one of the units.