At any rate, when I finally found a 'good deal', my wife said she was 'fed up' with hearing me lose out on so many properties and she encouraged me to purchase the property for a higher price (to win the bid I mean). 

@Linda Weygant Thank you for the encouragement!  

You guys have encouraged me to think big, set my goals and to work backwards from there.

Also I would encourage you to join http://gareia.com/ Great networking there.Please contact me if you feel I can help you.Best wishes to you!!! 

@John Slater, thank you for your input and encouragement on the subject. 

Because of that I would encourage you to run the numbers as accurately as possible, be honest with your goals, and if the property seems to align with your goals...GO FOR IT!

This will continue to work until it doesn't and then I think it will get ugly.So, to help us BP members, investors and syndicators alike I would like to encourage everyone to look at this metric.It's a bit hard to calculate because it's not just the amount you are paying on your bank loan but rather that plus the amount owed to the investors on a syndicated deal.

But make sure you do your "due diligence" on the property FIRST.Also, educate yourself by capitalizing on the podcasts, blogs, forums, and articles here on BiggerPockets.Finally, I would encourage you to join your local real estate investment club and network with other investors and real estate professionals in your area.

Thanks for all the great feedback, and encouragement!!!

What items do you have done before making an offer on a property like this, and how would the finding results either encourage or discourage your purchase or offer amount?