My background involves social work & non-profit management before getting into real estate.

Some could disagree as getting all cash and putting it in the stock market would yield a much higher return than the rate on a loan.2.

I think I was looking at the Investment Returns, that was giving me a negative calculation.

The investment will be 12.5% cash on cash and an overall return on the money invested will be 48% over 2 years.

He was initially terrified of buying a place with a pool.. thought it would scare off insurers and sink his returns.

Unless those items are all satisfied (except for housing violations and some non-monetary liens which follow the property), the department of finance will not allow the deed to pass through to the next stop in the recording process.So even if you wanted to dump a property that was totally upside down with liens to someone who was willing to take it from you, you can't do it.

48,000/300,000 = 16% ROI60,000/380,000 - 15.7% ROIAppreciation:Renovated single family = 33% appreciation potentialConvert to Quad = 31.58%So in both calculations your percentage return from gross revenue AND appreciation is higher renovating the single family.

However, every company I find either doesn't insure non-owner occupied units or is extremely expensive.

Change the locks so he can't return.

However, after running the numbers accounting for insurance, PMI, taxes, vacancy, capX, property manager, etc. the property is estimated -1.85% cash on cash return (-$600/mo) once I fully rent the property.