That’ll work out to like 350$ income a unit -Even in the ghetto the fourplexes do a whole lot better than that

Work out acceptable numbers with the seller such as x percentage of paydown if/when you re-finance.

As long as you properly screen tenants and set up the lease properly it will work out.

One CAN figure out approximately how much a property sold for even if it's not listed in the records:  extrapolate the transfer taxes (state/county/city) and multiply out.Just an aside:  I remember back in the day when the appraisals were coming in short in an appreciating market (something like we have today) we would ask the buyer to pay MORE money for the transfer taxes (no law about not paying more taxes) and it would help show a higher "sales" price and help 'push' up the comps--not recommending you do that now--much more data available for all eyes.But I would recommend that you buddy up with a like-minded realtor, and work out a mutually beneficial arrangement so you can get the info you need, and they can get listings, sales, referrals, etc, that they need.Better yet, get licensed yourself and get to know the business from the inside out!

If they stopped paying the day after you acquire the note then you will need to do the workouts etc. 

Yes, most of the JVs I've seen are where you fund 100% of the acquisition and work out cost, the experienced investor finds/vets/leads the deal and work out process, and then profits are split 50/50. 

Maybe one will work out.

I am happy to say that on August 31st, 2015 I went into an 8 to 10 hour surgery and came out cancer free (the additional chemo sessions through December were as a precaution).Now, I was on a serious mission to get back on my feet financially and health-wise and was armed with a completely new way to look at life.  

Never work out.. !

I have an appointment with JAG next week to work out the legal issues in order to cover myself just in case there may be an issue in which your speaking of.