Your job is to keep tightening it up (geographically and based on asset type) and meeting investors until you have a buy box that makes sense for you.There is also no point to running deals through a calculator if you are seeing them.

Florida homesteads have no cap on the asset protection (I don't know Utah's laws), so for folks like surgeons, I would set them up with an equity line rather than a first mortgage.

Just because the costs might be in the furture does not warrant not budgeting for those known expensesThen there is the misc costs of asset protection, bookkeeping, unexpected utilities (such as between tenants (tenant turn over) or failure not attributable to the tenant such as slab leak).  

I could use gross income or have the property assessed for assets and it would come out to at least $1M.

You can buy part of a note or perhaps a small note through corporate entities, crowd funding, 506 entities under SEC, but guess what, the SEC only authorizes the formation and operation of pooling investors, these set ups absolutely do not give license to sell or trade stocks, bonds, mutual funds or mortgages as a broker dealer, those requirements are in addition to the pooling of funds authorizations.

This is such an asset! 

Underwrite the asset. 

Or in your case, maybe even change classes of property and use what's known as a consolidation exchange to combine the sales into a larger asset like a multi-family or commercial property.

@Carl RezaThe hardest part is taking the first step of knowing your goals and why you're investing, then doing a deal analysis with your market, assets, budgets, etc.

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