I hear so many people seem to boast about how fast they get a property rented and I think that's the biggest mistake to follow that thinking. 

I understand what you are trying to do but it is highly unlikely in the current multifamily investment cycle to pull off such a feat.You want ultra high returns but low to no risk of your capital.The multifamily sector has been recovering for years and there is stiff competition from all cash buyers on value add properties.

You get into some drug problems but not nearly as much violent crime/gangs.The schools inside Grand Rapids proper are a bit rough... if you're looking to raise a family you may want to avoid downtown and take advantage of the low down payment options and ultra low interest rates to check out some of the suburbs. 

If you want to be ultra conservate just jack up the percentages and see how that affects your numbers.

I may be overly pessimistic but my experience with duplexes has taught me to be ultra conservative on my projections.

.  :-)Most likely, you're focused on either/both ultra-low-end properties and/or properties that need very little work -- these aren't typical in this business.  

I've procured some of the Allure Ultra for my SFR; should be installing in the next few weeks. 

@Marc RobersonWhile I am 100% on board with you on the payment of HOA fees, many HOA have become ultra aggressive with fining residents and charging rediculously high transfer feesThe hiring of private firms to fine residents for a lightbulb being out, a small patch of dead grass or a fence board falling down is purely to drive revenue.  

It may be true for the ultra wealthy that RE was not their path to wealth, but for millionaires which is the new middle class RE is still a lion share of their paths to wealth.

At a cap rate of 7.75%, purchase price would fall close to $1.6mm.Seller would like to sell, but is not ultra motivated and won't accept lowball here.