For the "as repaired" value you will have to provide a list of improvements you plan to make.

Several investors have come in to purchase other homes (street has several other duplexes) on the street and have improved these properties as well.

The 4 property rule is only for 4 fannie/freddie loans.

The 70% rule is one we typically apply to flips, not to rentals.Also a seller isnt leaving 30% on the table.

Standard rule is deposit stays on unit until it is vacant.

The deal is as follows: Eightplex in Hickory NCAsking price $210,000 (trying to get it down to 150-170k, but am using 210k for the numbers) Gross rents: $2,900/month or $34,800/year (Between $330-400 a door) Tenants pay all utilitiesI am requesting a 1040 schedule E and the T12's from the seller, but for now am forced to use the 50% rule. using that, operating expenses are $17,400 NOI: $17,400Cap: 8.28 Debt Service: $8,700Equity Dividend rate: 16.5% The area isn't great or terrible, probably a C or C+ area.

The more positive and proactive responsibility that people have in anything, the happier they will be and their quality will improve as well. 

I am a finance professional currently, so I bring that mindset to the table, as well as a good eye, a passion for property improvement, and some funds.  

Yes, in truth the costs are more than 55% of gross but there is room for improvement that current management is not addressing.

Any "repairs or improvements" he made without written consent is a breach of the lease and is grounds for eviction.