When you say that you have run the numbers and you can cash flow $800-$1200 for each apartment in a Duplex here in Tampa, do you mean that this is Gross Rents per unit?

When removing the old faucet I found the problem (see pictures below), gross!  

This building grosses 34k has 12k expense. 10k. loan. clears about 1000 a month.

Morgan Turek a lot of BP members such as j Scott shoot for 15% profit gross of the sale price on flips.

My credit score is in the 780s.Because of my loss of W-2 income, I doubt my self-employment income from my 2014 and 2015 tax returns will paint me in a good light (since it was side work, I think my 2014 tax returns says gross was about $10k for the year). 

The conventional financing guidelines were designed with the primary end user in mind for the most part with slight accommodation for investment or non owner occupied use (75% of gross income and other simplistic rules).Good post Ruddy!

. ** I wonder if the owners is paying himself out of the gross, and you will not see it until you get the income and expense sheet... 

Learning where I'm wrong will ensure I find success when I get started. 1.Purchasing Plan + Time Frame (10 year plan)a.Year Onei.Purchase Quadplex1.Owner-Occupiedii.Roughly 20191.Greatly depends on Savings Plan successb.Year Two - Fivei.Purchase Quadplex1.Refinance Year One Purchasea.Cash Out to buy Year Two Quadplexii.Rinse, Repeat Strategy of Refinancing1.By Year Five own 5 Quadplexes (20 units)c.Year Six - Teni.Purchase 2 Quadplexes per Year1.Refinance Strategy2.Earned Income from Workinga.Only if necessary to stay on paceii.Results in 15 Quadplexes1.60 unitsa.Rent Each at $750i.Gross - 45,000/monthii.Gross - 540,000/yearEven if I pare down to 1 property a year through Years 6-10 that would result in 40 units40x750x12 = 360,000/yr Gross Income.

Assessed value $625k monthly gross rent $5,900 with room to grow.

Little weary about the whole partnership thing so if anyone has any advice I'd love for you to share.Also, is it realistic for me to think I can do $150k - $350k in gross profit a year if I don't touch/spend my initial investment and profit?