This is factually incorrect.

I'd like to say that your mentor at work is incorrect.

That's a CAP rate of 7.5% and since you're paying all cash, your COC is 7.5% not 9...Maybe the numbers above are incorrect but that's what I'm getting.

Here is the link:https://www.knowyouroptions.com/loanlookupThis quote is incorrect - portfolio loans do count toward the number of loans before you hit the conventional lending limit.And as @Wayne Brooks already has posted, it is the number of properties subject to mortgage, so a blanket loan will count for the number of properties covered under that loan, whereas a HELOC in second position does not count as an additional property loan.

So I can no longer work as a nurse in corrections a massage therapist my 30 year careers gone in an instant.

It could also mean that you may be running the numbers incorrectly.

Hi Craig,My apologies for the quality of the image and you are right the cap rate was incorrect due to an error on the formul. 

While you may earn $$$$$ as part of your work, if you work long hours, have a long commute, posture with expensive clothes, your true earnings are less, $$$ or $$.So it's important to keep your relationship with money in the back of your mind in all your ventures.

A $57K price might be fine.So, I think you're basic calculation is incorrect.

@James Heinz I think the biggest cause for disparity between assess value and market is the fact that in older communities the subject property is often incorrectly reflected in the tax record.