Thanks Elizabeth.

Elizabeth, thanks for the thoughts concerning the commercial side of things.And Ned, if and when I get out I may wind up in good old B-More, who knows maybe we can work together some day.I think I'll pass on this particular offer and focus more on a few of the foreclosures in my area.

Originally posted by @Elizabeth Colegrove:Welcome to Biggerpockets!

Thanks Elizabeth, so I am walking away with the idea that if my numbers work for a $400k purchase price at a 30% occupancy rate (which I feel I can easily get up to a 50-70%) then I should feel good about the price even though in reality the true value may be lower based on this newer build comp?

Elizabeth C. , thanks for the encouragement; I'm sure you're right considering you are taking on something far more management intensive remotely.Joel Owens - I've been seeing so little in the way of inventory for multi-family (at least in the areas that I would be comfortable with), and the cap rates have been dwindling down to single digits.

Elizabeth Colegrove I have briefly looked into USDA loans, but I believe our household income would be above the limit for our county.

Thanks for the welcome Elizabeth C. 

Thanks Jassem, Elizabeth, and Lisa for the comments.

Elizabeth, a multiplex has just one exterior, so if all of the other numbers are the same (cost and total rent), it will generate a better return.

Elizabeth Colegrove Thank you for your reply.