You may have been lucky to do the napkin approach on your first two but I certainly would not gamble the rest of my investment career on that approach, itbwont be long before you run into a large mistake.Properties with 5 or more units moves you into the "commercial" financing realm of the business and that is where the switch from comparable to income approach valuations changes.

Maybe they're gambling on appreciation? 

But if he came to me with such a plan - essentially gambling with MY retirement - I'd kindly but gently tell him to think of something else.You're asking him to take a HUGE risk on deals you don't even have identified yet - and hope like hell that you can turn 3 deals at $36,000 each in a year.You're just now getting started, so you have NO track record.  

This is conservative, when you're quietly bankrupt you can't afford to gamble with your money, so keep it close and make it count toward the ultimate goal, financial freedom!

Many unqualified person took this gamble and thus due to the exorbitant hedge fund SFH purchases in the greater Tampa Bay Area residential multi-family dwellings were artificially enhanced as well.

Knowledge is power, speculation is gambling!!

Instead, it's more like love and gambling ... with a circular learning pattern.

If I were a gambling man, I would bet the son already has a record with the courts; and/or multiple unsupported children.

Since I don't gamble, I guess this is how I get my kicks!

Your mortgage payment is not part of expenses and it goes up every 5 years so you lose more unless rent goes up faster, a dangerous gamble for those with no crystal ball.