I graduated from college with a degree in business with real estate emphasis and I got a broker license in 1980.  

I reviewed multiple scenarios in an effort to move the deal forward and not lose my 2k.

I graduated from college with a business degree that had real estate as an emphasis.  

On one side I'd say that my deal is easier because I only have 2 tenants to deal with and a lot fewer refrigerators, A/C units, sinks, toilets, etc but on the other hand...if one of my tenants doesn't pay or I have a vacancy then I lose 1/2 my rental income.I am very interested in purchasing a du/tri/quadplex or small apartment, do you mind me asking where you found the deal?  

I graduated from college with a business degree with emphasis on real estate.

If you buy for cash flow, if rents do not drop drastically, you can lose your equity but still be making money each month (although no one wants to lose $20K in equity to make $100 a month).5) Evaluate the situation and determine what is best for you.

Emphasis the points you know they are violating.

A way for you to learn the business and now lose the opportunity at hand.Regards,Frank

Hey BP,I have a confession to make, I'am a Realtor that might have a hero complex, I have the compulsive need to try to help everybody and at times I find myself in the deep end.... losing sanity.

You will be losing all the equity you may or may not build.The FHA 203k loan program is a bit different and does not limit your gains.