overall, it seems solid...no glaring deferred maintenance issues, but I am keenly aware of my lack of knowledge and my inexperience, and really trying to keep that in focus as I try to asses what our situation is, and whether we should move forward with it. 

@Evelyn Tilman hey Evelyn, don't be hard on yourself for the inexperience.

My investments have been hit hard with expenses -- likely my own inexperience and inability to be on site daily.

But a 25% chance that the fake market that we know we're in experiences a rapid repricing. 

Your risk profile could be either an (S) or a (W).Your opportunities are directly related to your (S) and (W).Threats could be your risk profile.Other strengths could be, knowledge of a particular class of renters, or etc...Of the (4), (W) is the hardest to define, because you don't always know what you don't know.If you are not high in experience, doing the SWOT with someone who knows your particular investment (SF, MF, Class-C, Class-B, rent to own, Air-BnB, etc...) might prove to be a helpful experience.Maybe if you outlined your investment business model (what your looking to do)...it might help.I say this because, for instance, my SWOT (and business model) for large multi-family would not line up too well with someone making money from Air-BnB, or tough neighborhoods.Good Luck!

Patience paid off handsomely, not just economically but in experience and how to proceed now.       

But since I don't have renovation MFR experience, I'm getting dinged in experience. 

U  P  BThe push to price off legal balance is just another way these hedgies have tried to profit off new investor stupidity (read: inexperience and exuberance) and the growing popularity of notes. 

@Matthew Powell - I would like to do deals with other investors, but when you're just getting started out, I find it challenging to get someone else on board given your inexperience.

So. I'm currently under agreement on an off market 5 unit. This is my second "going to close" deal.    I've made offers on several properties and have been looking down all avenues for a deal. I finally found one. I w...