Don't start buying the cheapest thing you can find, you'll end up spending WAY more- especially in a MFH, you'll be multiplying your losses. 

Throughout this year they have been late on multiply occasions and I had to serve them many times to pay or quit.

.), I've been using the following two methods to quickly triage whether the numbers might work: (1) Use an Effective Rent Multiplier and then compare it to the price to see if it's in the ballpark.

Rental rates, gross rent multipliers, cap rates, demographics, etc)?

Even if you only had 15% equity, you can still get it refinanced and have a much smaller MI multiplier than if you had a higher LTV.

I keep it simple:What is the rent multiplier – price compared to rent as a percent.

Just like sellers and listing agents might assume an FHA buyer has a rock bottom FICO, they might also assume they are barely scraping together 3.5% down, since many do in fact multiply target sales price by 3.5% and save up exactly that much money, unaware of closing costs, that things break in homes after you buy them, etc."

Multiply by .8 and you'll know what 80% of market value is.

Multiply your total miles by $0.485.

In other words, the adjusted rental income (75% of the gross rents) must be sufficient to cover the total mortgage payment of the property.Example of the FHA Self-Sufficiency Test Calculation:Gross Rental Income: Assume the appraiser estimates the total gross rental income from all units is $4,000 per month.Adjust Rental Income for Vacancy: Multiply the gross rental income by 75% to account for vacancies and maintenance costs.$4,000 x 0.75 = $3,000Monthly Mortgage Payment: Assume the total monthly mortgage payment (PITI + MIP) is $2,800.Result:Since the adjusted rental income ($3,000) is greater than the monthly mortgage payment ($2,800), the property passes the FHA self-sufficiency test.Importance of the Test:The self-sufficiency test is crucial for borrowers looking to finance a 3- or 4-unit property with an FHA loan.