Comps within a 4 block radius (freshly rehabbed) have sold or are selling in the range of $300,000 - $340,000. 

Kitchen/Dining room looks great though and house is located on an amazing, quiet, family friendly block near center of town. 

Again, I have used all actual numbers from my bank statements/end of year tax docs, and triple checked that I was putting all the numbers in the right blocks using the calculator, and the numbers don't add up...

neither are very accurate... you need to have a list of comparable homes that sold in the area that match  the house you are looking at  in lot size ,sq feet,  bed ,bath, outside finish etc  and some time houses even a few blocks away don't match because  they are over the tracks or a hwy or something that makes them a different neighborhood... you need to find a way to get actual sale prices of homes sold in the area and a way  eg feet on the ground to tell you if they are fair comparables.. your offers  and your profits depend on accurate comparables so you can judge  what you are doing... just my thoughts

You have to have a plan that shows specific numbers as goals or milestones to be reached so that their performance effects applicable funds injection that will in fact create the real building blocks necessary to get you the Multi-unit-building you envision to own someday.

You will get some road blocks along the way, but just keep at it.

When it came time to actually buy the property we ran into a road block.

Hey BP'ers!  I've been listening to the podcasts for about 2 months now and it has provided me with the wealth of knowledge I needed to get my bearings in this crazy world of real estate investing. I've seen Real Esta...

Hi all,I'm still scouting for my first deal, and I came across a commercial multifamily (7 units + 2 stores) that is out of state (NY, I'm in CA) that looks promising.The basic numbers are:Asking price:  300kCurrently leased, bringing in 74k per yearTaxes:  8,600, but assuming 10k.I'm assuming this needs to be a commercial loan, which brings me to my first road-block - my down payment ability is limited to about 30k (I have an IRA with 60k in it that I can borrow up to 50% of).What sort of things should I be on the lookout for with this type of property (assuming I'm able to surmount the down-payment problem)?  

Dennis Block. http://www.evict123.com.