@Russ is right much more details including objectives would help others to offer advise on how to get good deals done.The deal you mentioned, using only the details provided, is not what any investor would consider to be a good deal.With a rent of $3,400 per month using 50% as the expenses the NOI would be $1,700/400k = 0.00425% return.

I'd say I  better start posting now if Im ever going to catch up with you Russ!!

Think of how many abused and battered felines you could nurse back to health with a property like that. 

I'm pretty sure that on Day 1 at Facebook, for instance, no dude sitting in front of a screen working on a team of guys that are delegated the task of improving one possibly better way to share cat pics thinks of himself as a "feline image viral distribution facilitator."

Russel I would have to disagree but that is what is great about this site. 

Thanks @Russ Smith and @Beth L.Like you said, its was the returns of the application fees that seems like it could be one hell of a headache.

Leigh C Zeke Mohammod Russ Draper Zachary C.

Those are great goals Russ and we're looking to seeing your first multifamily property soon!

@Russ Draper hello!

@Kevin Duncan if you are new and want to learn you need to talk to @Russ Scheider.