Think about it in terms of Cash on Cash ROI. 

We have zero experience in terms of dealing with home loans of any kind, what so ever.

Actually I do have a question for the group, you have any pointers on things I need to watch out for out-of-state investors looking to get into multi-family in TX in term of taxes or legal paperwork? 

Please note that when you are working with a private lender, the process is inherently subjective, and so there can be significant variability in terms of what preliminary questions are asked/how the lender interprets specific answers.Deal:-  Where is the property located?

In terms of not buying myself a deathtrap I decided it's best since it would be treading new waters to not buy sight unseen if it needs major rehab, but to be brave enough to make an offer and take a risk on ones that appear to be in D condition or better.

So just wondering if its standard practice to contact other loan officers/brokers to get a few more quotes in terms of the financing and interest rates?

In terms of generating quotes I ask that the borrower supply either a copy of a recent report or some sort of other validation of their score like a credit karma report. 

Maryland is very strict in terms of fire sprinkler code. 

This house is notably nicer in terms of the upgrades and care put into but is certainly not a fully new remodel.

You are 'short' in terms of the rent not covering the mortgage and insurance.