An agreed 50:50 would give you both $30,000...This is very basic and there are TONS of details that need to be addressed (rehab overages, who pays utilities if the rehab triples the electric and heating bills, who insures it, who pulls permits, what happens when seller doesn’t want to move and you don’t agree on how much “you” deserve to let them not move).I wouldn’t do it unless it was a no lose homerun deal.

Long story short, I am buying it below market and anticipate I can easily double it's value within 12 months and potentially triple the monthly income.

I think you would want to sell, but I like to hit doubles, not aim for triples and home runs. 

Although lots of triple deckers worcester might be too far a commute.  

What matters most is the future, if the area you're investing in deteriorates and rent are cut in half your investment may be a disaster no matter how high the cap rate; if demand for your property greatly increases and rents triple you will make money even buying at a low cap rate.I use the cap rate as a filter for eliminating properties where I expect the property demand to remain stable.

Is it foolish to double/triple down in one area like that thus increasing risk/reward.2.

Mycomputer was acting funky.. sorry about the triple post.

If not, take your estimate and double or triple it (I'm not joking)

They are AWESOME BTW :)BTW, A big winning point to all of this is that the seller actually owns multiple MFH's on the same street, I'm hope to PARLE this into 9 units by way of 3 triples!

Huge profits are to be had but only if you double cross your T's and triple dot your I's.