The Private lender that I selected for this deal claimed that he is always willing to close church deals as long as the income was strong and the borrower had reserves and if need be they would look at additional guarantors .Well I figured this was an easy match until the lender began to speak on the conference call and made a ton of insensitive remarks, a few religious jokes gone wrong and even an ill timed reference to pornography.

In our case, we are restricted to leasing the property to individuals that have the past in mental illness or/and homelessness.

That was ill have portfolio to show and prove. 

I want to be fairly conservative with my analysis since I want a fairly big margin of safety.Rents: $600x4 = $2400/mo = $28800/year (Rents look closer to $650/mo, but I"ll use $600 to be safe)Expenses: Power/Gas are separately metered, but I just used 60% instead of the 50% rule for total expenses, and I will also be using property mgmt that will take around 8% off the top.NOI: $28800 x . 4 = $11520So if I were to target 8% cap rate using these numbers, I get a valuation of $144,000.Does that sound like a reasonable analysis?

I was hoping to add another layer of protection to my personal liability, I guess ill take out and umbrella policy instead:(

If my entire deduction is taken away, then of course i"ll have to reduce the principal to an amount to become eligible again

If not, no problem, ill do what i know how to do best...

Ill do that now!  

Ill be sure to check out flexjobs today!

Thank you everyone and if i missed any info that would be relevant let me know and ill add it in.