(income = 3 x monthly rent, Debt-To-Income, etc. can still be used!)

Hard to produce cash flow or break even with that much debt, at that rate.House-hackers, however enjoy certain one time (non-scalable) advantages that should be taken advantage of in the early days: - They can assume pre-existing debt like VA and FHA Loans (rather than take it on Subject-To which is dramatically riskier).- They can rent by the room and self-manage to produce day 1 cash flow.- Many of these HCOL areas also have strict limitations on AirBnB or short-term rentals... that do not apply to owner-occupants - thus allowing for extreme cashflow potential for house-hackers.

He has owned it for over 30 years and has no debt, so seller financing is possible and he doesn't need a large amount of cash soon. 4 of the 6 units have been recently updated. 

Purchasing subject to allows you to (1) buy a property and pay a lower rate (3-4%) that was in existence when the loan was originated, so cash flow will be better as well as equity buildup; (2) not have to qualify for the mortgage saving time, expense, and allowing property purchases in greater number than otherwise and (3) no personal liability on downside (4) no debt added to your PFS.  

@Ram Go "Initial Debt" may or may not be the same thing as the current loan balance. 

They started having a guy from a company called Pathways come to these events and get people to put 40k on 4 or 5 credit cards which put them in massive debt and wrecked their credit because of this dishonesty as well as other things said in the three days.2.

When your LLC takes a loan, expect as members to personally guarantee the debt.

The major pieces of information you are missing include NOI which includes deducting all of your operating expenses from your gross rents sans debt service, market dynamics (what are vacancy rates and asking rents like in the market the building is located in?)

Let’s break this down because there’s a lot to unpack here.The real question is, how well is that debt working for you?

Quote from @Collin Hays: From a macro standpoint, cash flow is difficult when servicing debt, at least in the early years.