I work for an appraisal company and although we develop the income approach on all multifamily appraisals, it is never give weight in the final appraised value and is considered unreliable for properties at or below 4 units.

Your background will also be scrutinized but they put more weight on the principal sponsor.Hope this helps.

They state that they put the most weight on a 2 family house in the area.

Ive never invested in a syndicate but from the typical returns Ive seen thrown around I dont see how that could be considered a viable vehicle to rapidly scale up wealth compared to your own property investments

The reason for all the "ifs/and/or" is that you're likely switching scenarios back and forth super rapidly, causing a breakdown in communication.

If you take your GRM (8.33) and multiply the annual income ($11,411) you come up with a market value of $95,054 (not the $110,000 purchase price) Unless this is in a rapidly appreciating market, the $149.07 ($1,100 rent - 950.93 expenses) really isn't a good return on a 2 unit property 

I’m happy to pay a fair price but all the “maybes” can add up rapidly.

Im looking to start buy and hold, single family and small multifamily properties, in Grand Rapids, MI.

I'm reading and listening to everything I can, and I am ready to start, so i'm giving the next 2 months as a rapid learning time period. 

They are worth their weight in gold.