or options 3, 4 and 5 don't supply washer and dryers and either the tenant provides their own, rent appliances or goes to community laundramat.

Unless you have a way to source off market deals or have a crew to provide labor for below market value, you're kind of relying on hope and luck to find a deal that works.

Lastly, Rochester, the most affordable of the four, provides great opportunities for investors looking for higher cap rates (8-10%) in multifamily properties.

The value of the info he provided cannot be understated.Residential RE is more challenging then a few years ago, but there are a lot of ways to make money in RE.  

The letter also states the total non-rent items currently owed by the tenant, such as accumulated late fees or repair charges.Also very important, the tenant states they have no unresolved issues with their current landlord, except as listed in a space provided, and they have no current plans to cancel their lease under the Service Members Civil Relief Act or for any other reason. 

I usually provide our budget as well with totals spent. 

You do not need to provide tax returns, W2s, paystubs, etc.

The Detailed Engineering Cost Estimate Approach is typically used for the purchase of used property.SURVEY OR LETTER APPROACHOnce a site inspection has been completed and all components of a property have been determined, your specialist will send a survey or letter to the contractors or subcontractors to request they provide the cost of each of the items.

Real estate has always been in the back of my mind as a way to increase our wealth and provide for our family.

We have specific and unyielding criteria for this, which we provide to all potential borrowers in advance.