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

However, I'm having a fundamental gap in my understanding which will eventually come up.... so I'm trying to break through it now.  

No matter how competitive a market is, always stick to the fundamentals to mitigate as much risk as possible to avoid serious loss.