However, I must admit that there were times during the loan approval process that I wanted to tear my hair out.   

hello everyone, i am ready to pull the trigger on my first investment and i have a question. the property is a commercial property that also has a duplex that goes with it. the total property is assessed at $ 220,000 and they are asking $ 160,000 for it. the duplex is 2 one bedroom apartments renting for $ 400 a month each currently rented. the commercial part is upstairs hair salon 1,200 square feet and the bottom part is also around 1,200 square feet . the bottom part is rented out for $1,200 a month by a car rental company that has a lease signed till 2017. they also pay half the taxes for the property. my question is can i use the extra equity to use as a down payment to get this property ?

Gets hair when there are third party buyers. happens all the time though.

Whooaa pull the reigns a hair... easy to do illegal things without knowing it here. 

It looks like it was missed by a hair this month.

Pump the brakes, do some reading, come up with a plan, and then seek coaching.There are a number of "gray hairs" (meaning experienced) people telling you what to do in this thread and it seems like you are ignoring the advice.  

Again, the point is not to split legal hairs or be argumentative.

The unions have the hospitals by the short hairs out there.

I think 3 of my hairs turned grey instantly...

If the deal was that tight that $2,000 makes or breaks it, then reconsider but if you ran the numbers based on asking price and they work (and you did the numbers correctly) - a cash flowing deal is better than no deal.Only caveat to that is if you are short on funds and looking to invest in additional properties immediatelyAnd you have a better deal in your cross hairs.