Probably a decent cash flow deal if you know what you're getting into but it hasn't been B for 50+ years.What are your numbers for:- Property taxes (around 3% of city assessed value)- Grass and snow- Heat - Water- Other utilities if landlord paysI agree with your 10% each for maintenance, management and vacancy.

What I've tried to challenge before(especially on the leveraged properties) is the bank assessed replacement value which drives the premium.

I like to look at cost per unit and cash flow per unit to help compare deals, but you need to get all of the other info to properly assess the property. 

I'm not even sure if the ink was dry before I received my first special assessment.4.

HI Jonna,What wayne mentions is generally correct however there are other FHA related guidelines to adhere to as well such as the self sufficiency rule in which states that in the event all units are rented at market that that monthly figure is able to cover the entire monthly PITIA (prin/int/tax/ins/assessments) of the 3-4 unit you are purchasing (this does not apply to 2 unit properties).There are other stipulations on 3-4 unit properties as well such as if you use a non occupant co-borrower you may need to put up to 15% down instead of the normal 3.5%. 

I sent a refund check for the deposit minus all damages assessed on the propery.

Can I ask you a few other qualifying questions that will help me assess your properties value?

How many “late” payments does it take to have a fee assessed?

I ask because although you'd be increasing the density by having smaller lots, what you're proposing might still be compatible.

The short cut to your assessment and unasked question is come with 35% minimum.