I would live in it for a year and then rent..i just wish I could speed it along in purchasing more than just one a year instead of having to wait a year.

What I keep finding out is that my target price is always at least 20% below seller's asking price.Here are my rules/metrics:total economic loss after property is stable is 12% (15% in lower quality areas)incremental rent growth after the property is stable is 2%expenses grow by 2%/yearproperty tax is 90% of the purchase price multiplied by a local tax rate (usually doubles tax from whatever seller pays)payroll $1000-1200/unit regardless of the property size (brokers claim that 30-units don't need payroll but I don't believe them :-) )reserves of $300/unit counted in expensesexit cap rate is 100 basis points higher than current cap rate (e.g. exit at 8% if current cap rate is 7%)cash-on-cash ROI 10%+ starting in the second year; first year may be lower if this is a value-add5 years total ROI (assuming sale) is at least 100%IRR 15%+ over 5 years (al ROIs are net to investors after 20% sponsor override)I can adjust may metrics to some degree but in order for me to get to the seller's acceptable price I have to adjust most or all of them to unsustainable levels.So, what should I do other than keep underwriting and waiting until the market turns down and all of a sudden my numbers would make sense for a seller?

Once I am a bit more sure of the numbers I will probably create an excel sheet, to speed up the process.

Typically commercial mortgage amortization is 20-25 years instead of 30 years but sometimes you can find 30 years and rate may adjust every 5 years based on prime rate or treasury bill.

If necessary, I would potentially use any other income sources to speed up, stay on target or address pain points.I'm suggesting a 10 year time frame as a ball park because I will use any additional income to speed this process along.

That would help speed up property analysis.Thanks

My shift at the hospital is pretty flexible but I have a great handy man on speed dial...I know...

If you can't look at a prospective property within 24 hours turn in your offer because speed does succeed in most sales.Make sure you know of anything in the building code that is unusual and budget for it.  

I prefer to adjust these rather than room vents so tenants are less likely to fool with them.

Could be as easy as adjusting the closer.