A terrible combination for a new investor.

Especially at a $400+ price point I think the bars are terrible.

Terrible situation going on out here now.

If a contractor is late, fails to communicate why they are late, and then makes a terrible excuse for being late you can already imagine how the job will go.

So my debt to income ratio is currently terrible.

We're under contract to purchase a duplex with terrible, flaking, cracked plaster walls.

That's terrible, sorry to hear that.

It was terrible and with a small company.Anyway, now I'm at a point where I'm in a decent financial spot and I'm perfectly comfortable partnering up (a friend of mine in Milwaukee started on this in November) to get into some low-price flips and/or duplex, triplex, etc.So, my question...I won't qualify for any type of loan since I've been out of a W2 since June.

In a Worcester 3 decker the units can be terrible and you can overcome that. 

Purchase price: $201,000If this were a long term rental then monthly rent would be $1,200 (terrible, I know) However, as a vacation rental it would bring in around $2,700/month based on the average occupancy and nightly rates in that area.