Using J Scott's flip formula, and being conservative, I came up with a MPP of $64,000MPP= sales price - fixed cost - profit - rehab Sales price = 180K Fixed = 41k Profit = 15K Rehab = 60K Fixed cost was derived from the following: -$871pm X12 (interest payments) -$9,676 (down payment) -$450 (appraisal) -$3,096 (broker fee) -$16,000 (selling cost) I hope all goes well, I look forward to joining you in Florida in the near future.

Yes, we look at the value derived from the income approach but we still loan on the old fashioned appraised/as-is value.Inbox me with a bit more info and I'll tell you exactly why you are being dismissed.Good luck!

My area is probably different than yours, but here it is simply the 1% per month income rule or a small derivation of it.  

If you derive income from your property/ies then you will have to submit a tax return every year.

BUT IF YOU INSIST on owning the place you lived in for quite a while which could be done in a profitable way it will cost you a lot of headaches... and whatever you do try to talk you landlord into letting you and your family stay a little longer while the agent tries to get the 700k and if he gets 6 or 650 he is lucky and your screwed but i doubt he will sell it above 500 and if you buy it for 500 maybe he can cary a note and make a deal with you to get approved easier for 300k and he can have cash now pay off his loan and still have monthly income from the property that he won't own anymore....It may be a way to convince him into cutting the price and selling to you...GOOD LUCK and don't rush into it i know some crazy sales are happening in bay ridge for whatever reason but when i see a bunch of 2 families sold for 3-400kish and than one or 2 show to be sold for 1.2 million plus it could be a talented investor or just evidence of money laundering although thats nearly impossible to prove... i think i actually heard something about that on NPR  :) So either I could be stuck with the house I've been living in for a long time now...but with brand new owner derived headaches...or....I can sit and wait to see what happens and by some miracle he sells it for 6 or 650k....for which I'd be screwed.  

I am thinking three apartment buildings (professionally managed Class B/B+, Cap Rates 7+, 95% or more occupancy rate) each located in a solid neighborhood in a separate city in NW Washington (one in Seattle, one in Bellevue, and another in Olympia or Tacoma).I wouldn’t need to derive personal income from these investments, as I would put all profits into servicing the debt more quickly and/or investing back into the buildings.I am somewhat nervous about taking on such a huge amount of debt, though, even if the down payment does afford some cushion.

The listing price is pretty much derived from the GRM at 10% @700. or $140,000.00 and realtors commissions and closing costs up to 156K as is, so is the property really for sale?

That rule is derived from large amounts of apartment data, so is applicable to your deal. 

They could be a little more derivative.

Here, you should use this as an opportunity to purchase an asset based on solid and provable figures derived from your due diligence.The first step is making sure that you understand the game from this perspective and you will be fine.