Sure you can get relatively cheap properties in Toledo and Cleveland, but at today's interest rates they'll be difficult to cash flow despite what your analysis shows on paper.

I wanted to be sure I was covering all my bases with a CAPEX analysis. 

The rent would be $550 per bedroom and the utilities would be split in 4 (all the tenants plus me).That was just a surface level analysis for that property and I was wondering If a FHA 203(k) loan would be ideal to cover for the remodeling while keeping in mind the HVAC would need replacement sooner than later.

And great, I'm spending a ton of time practicing deal analysis and understanding my goals to be able to identify on my end what would work for me and my portfolio, noted on the importance of taking charge of all of that. 

I put in a recurring CAPEX or replacement reserve in my analysis for things like roofs, HVAC, etc. as well as general maintenance and turnover. 

I’m currently reading Dave Meyer’s book on deal analysis and Brandon Turner’s book on rental property investing.

are you able to do your own analysis on the deal the syndicators are proposing?

Hi Lawrence, Here's my short advice check Due Diligence, Understand Owner Financing Terms, Seek Professional Guidance, Market Research, Financial Analysis, Risk Management, Long-Term Vision.

@James Coleman I would be happy to provide a 3rd party review of the property and numbers to provide you an analysis. 

Portfolio lenders use more of a DSCR analysis to lending - meaning they are likely to lend to you as long as the investment can pay its debts - more so than a residential lender.