Now after all that, you have to go to a lending institution a second time and try to get a loan and there are many requirements to getting loans in todays environment which make it difficult.

As an agent, I have been seeing insane numbers being offered on properties where there is no way the rents can possibly make sense.I'm curious how people are spending so much on multi-family properties, especially in the current rate environment.

I recommend letting your tenant go in peace and stick with one year leases in the future.

I don't know if technology can replace someones experience of living and breathing in that area/environment.

It's helpful to understand the nuances, especially regarding the  block-by-block differences and the competitive buying environment during this time.

We quote based on the estimated FICO score you provide so if done right with accurately submitted numbers (property income, expenses, taxes) then the actual credit pull on loan app is the only way a rate would differ from the quote and term that is rate locked for underwriting or if the loan app is submitted in a large enough time window in which rates could have changed (we're in a dynamic rate environment so by the day and the week rates fluctuate). 

I do not recommend pulling a home equity loan as a first time investor if you are buying a fixer-upper, the current rate environment is not favorable for rehab projects that run way past their scheduled timeline and you don't want to run into a situation where your family can't meet loan payments while your house is securing the loan. 

Seems like you know the answer and need confirmation (and I am typing this from a 3/2 beach block condo in Wildwood Crest.)At 25% down purchase, even renting 12-14 weeks you would negative cash flow $3-5k month when you consider the many layers of expenses and the current rate environment.

In today's building environment, a lot of markets don't have the necessary income for a 4-plex to support the cost of building a new one. 

Definitely a very humid environment, especially near the coast, so expect to deal with all of the issues that come with high humidity - termites, bugs, mold/mildew, wood rot, etc.