Rob K. has some that he will probably share, along with some amusing anecdotal reasons. 

@Bryan WilliamsonThankfully I am using government grants to pay for my schooling and the college I am attending the credits are only $80.

- the only place i put my phone number is on the picture that i attach to the posting - I am using three different versions of posts.

But I decided to jump into real estate and should be closing on a million dollar property this week.I am using leverage and the rental should easily pay for all of the costs and leave me with a good amount of money left over.  

I am using my 120k to invest out of state.

Instead of picturing yourself being amused poring over my application you should picture yourself getting suckered by a person who has lost their main source of income but who still has a high credit score because they have managed to continue servicing their debt.

Due to the requirements of the retirement fund I am using to purchase it, I can only purchase property using cash (cannot take out a loan), and have to hold it for at least two years so as not to be identified as "carrying on a business".

I only plan to rent the lots, which I would assume is similar to SFHs, which I am used to.

I am using a conventional LPMI (Lender Paid Mortgage Insurance) mortgage for this property.  

It is an 18-plex in a town 15K people with a very high rent to owner occupied ratio (renter being on the high side).Property is on MLS listed at $749,000Deal Summary:18 units x $500 per unit = 9,000 gross monthly/108,000 yearlyVacancy factor I am using is = 5%Total Operating Income = 8,550 GM/ 102,600 yearlyTotal Operating Expenses = 4,412 monthly/52,950 yearlyAs a percentage of Income 51%NOI = 4,137 monthly / 49,650 yearlyIn my analysis to calculate what I should be paying I am taking the NOI / my expected CAP RATE, which in this case would be 49,650/.10 = $496,500In this back of the envelop math I view my max offer price (on the assumption that I have good data on both the rents and expenses side) as $496,500 to achieve a 10% CapRate.I would really appreciate feedback as to if I am on the right track or I have totally missed something here.ThanksRob