I've had to decline many loan requests because the income production doesn't cover the expenses and there's no way to make the math work.

Quote from @Carlos Ptriawan: None of these lo guys able to comprehend that back thenI am about to say even if the Fed raised the rate in 2015 , Lp equity would be wiped out as well.It is just Lp investors are too dumb to understand basic math and relationship between equity LTV and volatility changes in rate.Appreciate the brutal honest!

Looking at it doesn't change the math. 

We could be wrong, but it doesn't seem likely.Carini did the math for you early, if after repairs it assess for 240k as you suggest, you'll be able to refinance and pull out 187k, of which about 116k will go to paying off your previous mortgage leaving you with 71k to go plan your next move.This is very compatible with living in the house and getting roommates. 

Deals, markets, are good or bad based on math. 

The principle of a 1031 exchange may work, but the math probably won't, as has been pointed out by others.Should I continue?

Maybe they are okay to be watched while they work in the garden but don't have the leadership, knowledge, math, connections, skills...

Upfront expenses and monthly payments must be considered when calculating the return on your investment.EXAMPLEI will provide details below, but here's the short version for those who hate to read or do math.

Do the math with a small number of units you like best and purchase whichever one makes sense financially based on price/income.

I'll try to present a basic plan with some napkin math soon.