What you've outlined would be a good starting point though to help understand just how much needs to be done to truly hit the free cash flow targets that we aspire to attain.

@Brett Read, I think there's basically two ways of looking at it, one is "how good of a deal is it on its own" and "how good of a deal is it for me personally".Really, the first analysis is optional, but good if you think you might move out in a few years.The second is really the one that counts for you personally at the end of the day.If you're occupying one of three units, it's common to have low or negative cash flow - the "live for free while your tenants pay your mortgage" is a good goal to aspire to, but doesn't always work out when realities like vacancy, repairs, and capital improvements are figured in.I guess I would do the "conventional financing" analysis with the 20% down like you mentioned, just to get a sense of the cap rate, free cash flow and debt service coverage ratio to see whether you like the #s in general.But the most important analysis is the "real" one you're going to use to buy it, with the 3.5% down and you occupying the unit.

Just don't put the relationship on the line because you want to "Help his aspiring business".

So this is my first time using the Biggerpockets Forums :-) Im an aspiring real estate investor with an idea to call leads off of leads I get from REIPro and the ones I don't use or aren't my niche I can shoot out to other investors who can. 

A prudent investor, which I aspire to be, shouldn't care if the market crashes, corrects, or continues upward.

I’m a child abuse detective with aspirations of acquiring buy and hold properties in the next 12-18 months.

My real estate career started long before I had any aspirations to become a real estate investor.

Hello BPI am an aspiring investor.

I am an aspiring investor here in Orlando, Florida.

Sharing tips, a journey (like a rehab project or getting into real estate investing from your point of view or whatever), frustrations, are all popular because you will always have people who relate, commiserate, or aspire.