In regards to the Borrowers’ front-end ratio, does that figure not take into account the rent cash flow that would be coming from the additional units? 

He is based in San Carlos, and is my accountant and also has a RE license (he helped me purchase my home 2 years ago.) 

Go deeper and work out the true monthly costs and account for vacancy/maintenance/ cap ex.

Account Closed,Thanks Maria. 

We are still small, when will I know if it is time to invest in a better accounting system? 

Hi Account Closed - I recommend heading over to Michael Blank's website and leveraging the arsenal of amazing training resources he has available to learn commercial multifamily underwriting.

Account Closed, I would focus less on narrowing down the type of property and location and focus more on finding good deals.

I know I can proceed legally towards judgements, the cost of which gets me to just over break even and i still wouldn't have any cash for my efforts.Does anyone have experience with other approaches such as collection companies or selling accounts receivablesThank for any help that you can provide

Account Closed Michigan is quite large, are you able to narrow down what area in Michigan you were thinking about investing in?

There are cheaper properties in the $300K range, but they are in rundown drug-infested areas.The calc I ran for this one was taking into account current rents, which we researched and determined to be a bit low.