I have analyzed the deal and am seeing that I can make this unit cash flow roughly $200 a month however I am wondering what your experiences are with renting in this price range.

I have a sense of AVR which is in the $850,000-$950,000 range.

I also noticed that the front/back porch and enclosed garage were appraised at $29sq/ft ( considering everything was build as a part of the house by the same construction builder it doesn’t make sense to me) Also: my house was built in 2010 and comparables were 2009-2013 range!

I comped houses with similar square feet and found theres enough sq feet for 2 additional bedrooms, potentially hitting the 352k range. owned the property for a little over a year, with a 50k downpayment. original loan = 333kfinanced = 281kcurrent value = 340k (according to his loan officer)Ive ran it through the usual 70-80% formulas but wanted some extra opinions/ weigh ins before i send him my offer. of course i dont want to insult him, being family and all, but he understands the convenience factor im providing.

With comps in the area ranging from $320-$440k, this one is sure to be a money maker for whoever gets to the table first.

As far as how big, I really want to start with multihomes but it's looking out of my price range and have little connections as I am currently networking.

Could range from 5% in major cities to 10% in some suburbs.

I've come across several of the prior deals recently, but the multifamilies are rare in my price range (ideally below 400K) and in Class B areas.   

It may just be that the seller wants too much and there is no solution but I was hoping investors with more experience than myself in this area could provide some insight into how they would value this and how much of a hit to cash flow would be acceptable in exchange for future potential.The details:4-unit purpose built building in an average residential areaCap rates for 1-4 unit properties range from 6-10% depending on quality, location, conforming vs non-conforming etc.Asking price $520k, dropped from original $550k and has been on market for a few monthsRents are ~$34,000 and should be ~$48,000Expenses (excluding maintenance) are ~$9,000 - This puts the asking price cap rate at ~4.7% (not including maintenance)- We estimate that at asking price it would be about -$260/month in cash flow and break even at a PP of ~$450k assuming our typical 10% of rent for maintenance- We estimate the building would be worth around $530k at market rentsWe were thinking the cash flow neutral price would be our best offer, but their indication was that they are looking for close to 500k. 

What is the price range of repairng railing in a rear poruch?