I came across this one and I thought I'd run the #'s (as best as I know how, it was my first attempt) just to get an idea and see if it's workable.

Any advice from anyone who has been through please let me know if this is workable and worthwhile.

It's perhaps a workable deal, but give serious consideration and discussion to the scrapes that I've mentioned and decide if it's really something you and two other folks wanna tolerate, just to divide three ways the forecast $106.25/mo cashflow?

Hi Cheryl- I know those are workable #'s at the present.

It's worth checking....Another thing: get a well test done as part of your due diligence to check the workability of the system and to see what's in your water.Hope this helps.

Don't let them make their geographic location your problem - that's their problem.Come up with a couple options you think are workable and have your real estate attorney confirm.  

You need a workable answer and that is where the various metrics you hear everyone toss around come into play.

Hello BiggerPockets forums.As a bit of background, I'm in Memphis, TN, and while I have well over a decade's experience in investing, I have never done any real estate investments other than some REITs.I have about $12k to invest and excellent credit, and am looking into investing in rental properties.My thoughts are that I should start with multi-family units with existing tenants, as I'd ideally like to keep some of that money left over in case of unforeseen expenses, and I really don't want to dip into my backup funds unless I have little other choice.My questions are 1: Is this a workable strategy?

Our attorney advised that using an addendum for separate deals was not workable.  

This does not look like a workable plan (putting it gently).