Fast forward again to 2000s and more tax breaks for the rich, and the economy tanks.Supply side economics is based on the (incorrect) assumption that wealthy people treat money the same way poor people do.

Missing/incorrect paperwork is not uncommon and the agent can 'sell' the property to others while your offer sits on the loan mitigation officers desk (known as backup offers).Since this is a townhouse, your comps would be best from the same complex and if not, then the same layout in a similar complex.

I'm also building in a pretty decent time buffer and profit margin, so that i have some space in the event that my numbers end up being incorrect, I wont go completely broke on the deal.

I only tried to show you that you were calculating and applying cap rates incorrectly. 

You don't want to hold a deposit and handle it incorrectly. 

Therefore, if you want to do a year-over-year comparison (or even do your taxes for last year), your books will simply be incorrect unless you reactivate that property.

And @ Brent Combs incorrectly states that the property is receiving an 11% cap rate. 

Hey BP,This is kind of an off topic question but I just wanted to get some input from some experienced Real Estate "searchers" such as yourselves.Here is what I am finding with my real estate searches: BAD/WRONG/INCOM...

Doing it incorrectly can not only land you in court, it can land you in jail.  

Just tell the seller that financing fell through without insurance.By them relisting as a single family, they are acknowledging that it was incorrectly listed previously as a multifamily.