Quote from @Jaycee Greene: @Orlando Johnson Are you still looking at buying this property?

Uses to see this advertised.

Thank you for this post, Garrett! 

You really should talk to a CPA and show them the details of this property and how much depreciation has already been taken on this property. 

This only really matters if you plan to buy a house again soon...within 9-12 months4.

View report*This link comes directly from our calculators, based on information input by the member who posted.

Unlike some buyers, I ALWAYS go look at the properties before the sale and discovered that the vacant lot had an active railroad track on it and therefore was unbuildable, and would remain unbuildable until the railroad removed their track. 

This seems unrealistically low for a 40 unit property.

In order to put a property under contract I need to provide proof of funds I know that I can get that from a hard money lender but I don’t meet there criteria for a loan approval what should I do?