What I am trying to ask is just that - what time frame would NOT make it fraud.

You're getting a terrible deal in terms of financing.That said, at $135k... if you can achieve $3,000 a month, you got a great deal unless the property taxes are an absolute killer.For rent... figure 50% in expenses (including insurance, property tax, and property management).@ 3,000/mo * 50% = $1,500/mo * 12 mo/yr = $18,000 NOIFrom that, subtract your "mortgage payment" to get your cash flow for the year.Divide your cash flow by your investment ($100k) to get your Cash on Cash return.To me, that's one of the most important numbers to optimize as I am looking to maximize the return on my resources.

If you do hit the mark at only $4k a month in expenses, you'd be closer to 12% cash on cash.

What's your time frame for achieving your goals?

Marv, For Apartment Properties with 20 or more units, what are the more inexpensive ways to advertise to sellers?

Just an fyi though, I did inquire with a loan officer friend of mine who works for wells fargo about buying a property cash and he said in regards to the time frame, you could apply for a equity line the next day right after closing.

It's easy and inexpensive to do using Legal Zoom and I'm sure there are other similar services you could look into.

The structural repairs are inexpensive.

If this is a normal time frame I am satisfied.

With 11 months rent (and I am guessing $1,500 in expenses) his ROI for the 11 months it rented was 15% (these #'s are just esimtates, I have exact #'s on my Property Management software that I could pull if you like).