I don't mind giving you my input if you want to provide the address publicly or privately - I've done multifamily in-fill, single family in-fill, and lot split projects (one of the current ones is about 10' from the La Mesa border, so I know that general market).The hard part is figuring out how much any proposed project is going to cost, and how to control your risk in a market where labor and fees are high and the fundamentals don't necessarily support the sales prices.  

It helps to keep you sharp and expand your knowledge, but not to learn the fundamentals. 

The fact that they got that fundamental basic concept wrong telle me the buildets of the software have no clue about managing rentals and probably got many other things wrong. 

When I finally came on board with that line of thinking, I have seen an increase in the quality of tenant/applicant, and a massive reduction in evictions and turnover.If a person feels comfortable and knowledgeable enough about an area, just exercise solid fundamental analysis on the area.

And it's why all investors should extensively research markets, trends, and fundamentals that are likely to drive price appreciation.

I do not have access to that tool but I can imagine the fundamental numbers and calcs it uses to come up with that cash flow (mortgage, repairs, taxes, etc). 60k would be on the high end of what I am will to spend (Factor of Safety).

The last thing you want to do is buy somewhere because you have friends or family there unless those markets happen to have strong economic and demographic fundamentals.

In other words, the great fundamentals are already known by everyone and built into the high prices (and then some IMHO). 

You can make a ton of money buying fully occupied CA and NYC trophy properties and hope for cap rate compression (which non fundamental driven appreciation) but this is also a great way to lose your shirt. 

Dave, Yes, the bank will look at the partners' credit AND at the fundamentals of the deal.Mike