The property will show its age by a bit of deferred maintenance or functional obsolescence.

ü The establishment of an internal or third party independent audit function to test for compliance.

During the analysis portion of the broadcast when Brandon was adjusting numbers to demonstrate what a good deal might be, he mentioned that we may "almost be in flip territory".  

I don't understand, if you have capital to put 20% down on $3 million worth of assets, why are you wanting to operate in the small multi-family arena, where value is a function of demand, rather than larger multi-families, where value is a function of income?

Compute the IRR for those different scenarios (can compute with excel function).

The house is a bit funky and contains a full functional living unit on the second floor but the ground floor, (basement), which is on a slab, seems to have been remodeled at some point, but not at all finished.

If you think the prime will only be 2.5, then discount accordingly...How we get into deals is a function of how we get out.

I was using the app on my phone and it doesn't appear to support the mention function. 

If you have any sort of plan in your head then that can sufficient dependent upon how your mind functions.

Your profit is made (or lost) on the buy ... and that is a function of what you buy and where as well as the price you paid.