I believe I was able to "win" the bidding war for a few reasons:- I had pre-approval of funds ready to go- I pulled the trigger ASAP when I realized it was a deal worth pursuing- I submitted an offer with an Escalation Clause- I submitted my offer with a nice personal touch that was tailored towards the sellerBest of luck!

If you can rely on the personal loan for unexpected expenses and have credit cards available, I think the extra $1000 / month you have as padding would make me pull the trigger if I were in your situation. 

I've talked my clients out of deals because I knew they would be making a mistake and I've convinced my clients to pull the trigger on deals they dismissed because they didn't have the vision to see how it could be a great deal for them.

Not necessarily actually pulling the trigger on this particular property!

This BP analyzer is pretty superficial...If you are wondering if you should pull the trigger, you'd need to have a set investment criteria, and then we'd have to ask if the deal in question meets those criteria...this is a residential property valued by comparable sales...CAP is irrelevant entirely...Cash-on-cash merely puts your property on the same level playing field as other similar properties for the first year...it doesn't truly dictate a good deal.

It took me a long time and a lot of analysis before I pulled the trigger, but it sounds like you have done a lot of research yourself. 

I need a contractor/inspector to go out today to check it out and make sure there aren't any big ticket issues such as foundation issues before I pull the trigger.

Also, if you can, get a second job or some kind of side hustle (legal of course, like cleaning common areas, cutting hair, cleaning homes, etc.) and use that money solely for paying of debt OR saving for a down-payment, making sure you put it in a high-yield savings account, so it can grow interest while it sits in there......no taking anything out of it. 

I pulled the trigger a few years ago and am still doing real estate on the side; happy I got into it, definitely rewarding! 

That will make you more confident when it comes time to pull the trigger.