Worcester has a big Buzz regarding the new Ballpark for the Woo Sox (Red Sox AAA club) also people are getting priced out of Boston. 

What raised the red flag for me was the instructions to make it my primary residence address.

If a tenant says they don't have the 1st month's rent and security deposit right now that's a RED FLAG and I will not rent to them (they'll typically promise they'll pay the security deposit in increments... nope!). 

Yeah the management and closing costs are the big red flags on the report that i can see.

I would shoot for neighborhoods east, north, and north-east of the "mile square" monument circle, from Downtown.

The number of units is determined by lot square footage so it'll depend on how big the lot is.

I researched a multifamily property I am interested in putting an offer in for and found a few red flags.

That would be sky high for the area, even if pretty high square footage in a great area.What you need to be looking at is a 4 to 6 bedroom in a middlin' (AKA so-so, but not horrible) to nice neighborhood, not a literal borderline mansion in the fanciest sub area of the nicest neighborhood in town.

If he's simply taking the square footage and using a factor of $134.76/ft^2 and getting an accurate estimate over time, then that would be a good thing to know, especially if you are working in the same market.Best of luck out there, Brett!

I agree with you regarding focusing on the Comparable's condition, recently sold, #bed/baths, roofing, hvac, location, and square footage.