Economic Timing.According to data compiled by Marcus & Millichap[2], the Portland area has experienced three very important trends since 2010:The average price per unit for apartments has nearly doubledThe rate of employment growth rose from 2010 to 2015 but has since declined steadily, projected to be up 1% for 2020 (estimated before COVID-19)Roughly 30,000 apartments have been built since 2010, with another 5,600 units slated for construction in 2020Most RHA members have enjoyed a solid decade of price growth, rent growth and steady occupancy.

Property is fine as is but if fully renovated in my market I estimate 500k-550k ARV.

If I hadn’t been an expert in this market there would have been many variables I would have had to estimate which is a rookie mistake.

Pro:- it’s trained to look for safety risks, expensive repairs- within minutes analyzes entire disclosure packet of hundreds of pages- works as another set of eyes that looks for things you should be watching out for, likewise of a companion - great to quickly learn of property conditions from the actual documents while on the go (given that you still follow your own due diligence process)- beta is freeCons:- still in beta- can’t share report directly unless copy and paste- only core documents (home inspection, pest, roof, tds, hazard, solar) are supported but not regional specific disclosures like hoa- estimates it provides aren’t accurate- not mobile friendly 

@Erich Hatch, I think having a GC provide estimates is difficult.

I think the estimates are crazy low.A $3200 rental is going to be a nice place, not something with garbage paint on the walls.

You can use this tool to estimate future property taxes: https://treas-secure.state.mi.us/ptestimator/ptestimator.asp

Hi Nate - It'd be worth asking the lender for a detailed breakdown of closing costs for this program, as well as an estimate of the interest rate you'd get with today's rates (they'll probably need to pull your credit to do this).

By "business account," I’m referring to setting up an LLC as well as a business bank account.My goal is to expand my real estate portfolio by acquiring approximately two properties per year.

If your ARV is truly $285k, then I would estimate you could cash out around $135k that you could apply to the DP of the 6-plex.