PM us for more info, but in the meantime read more advice below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Heck, my CPA and I regularly discuss and are forced to make our own assumptions on how the IRS may interpret something in our real estate taxes, if we were to get audited.

Usually the Veteran is using the "Change of Life" circumstance which means they are moving out of state, closer to work, school, or moving into a bigger home for increased family, out of a multifamily into a SFR, it also applies to retirees or disabilty if moving out of a larger home and into a smaller one due to up keep or mibility.Most VA loans have an assumption clause as well.

My operating assumption is the Milwaukee real estate prices will double in the next 10 years, just like they did in the last 9.

You are referring to seller financing or an REC/wrap, rather than an assumption.  

You will have representation and your offer will be specific with no room for assumptions, etc.

Even with conservative assumptions the deal seems to pencil nicely.Here's the catch - the house is being sold as part of a 4-property portfolio (the properties are in differing parts of the city) and it is occupied by a "PHA tenant" (I believe this means the tenant is backed by the city's affordable housing program).I'm wondering if there's any sense in still making this deal.

That's an assumption.

I was always under the assumption that the interest portion of each note was classified as regular income.  

If you want to talk about someone making assumptions, you're assuming that it's the PUP that I was talking about in the first place.