It's purely to find income property and if that rule works in an area that can still be considered good, with good tenants and minimal problems, then use it.However, in a market like Phoenix AZ, you won't get anything close to that anymore unless you want to rent to gang members.

That's also assume $100 of pure profit, per month from each door.$103,261 would be the max purchase price assuming no other repairs are necessary.$135K is too high for my liking.

I'm purely speculating here, since I don't know your area, neighborhood, or complex, but it may be related to the fact that you have "the nicest unit in the complex" and your unit is "the largest one in the complex, ... has the nicest view of downtown, and it is the ONLY unit in the complex with actual bedrooms."

Another 10% for vacancy is 33% total.I say that is pure baloney.If landlord pays utility (water etc.) you go by 60% total annual costs.

Ignoring that issue, and purely speaking about the financing, unless your partner is EXTREMELY well-heeled, you will most likely need to post real estate collateral for a line of credit.

Anything northwest of the White River would be considered pure student rentals.  

To put it simply, gold is pure speculation.

You might be able to deduct the rent if the stay is purely for business reasons, but why go through all the hoops when you can just stay for free?  

Pure fact is that there is only a fraction of 2nd's out there when compared to 1st lien NPN's.  

The so-called quality of the deal is purely based on the facts that the wholesalers posts.