Even though we have a good combined income and 20% down payment, both our names are on the existing two mortgages and they are in 15yrs terms.

That could mean anything from unsafe steps, non functioning or inadequate heating, leaking roof, to a biological hazard such as human or animal waste. 

There should be a search function that allows you to search by parcel number. 

We just began this process and have done all of the regulars (joined REIA and a lot of other networking functions) Preferably we're looking for private equity financing but flexible to talk about whatever.Anyone have any suggestions of places to network?

I haven't figured out how to follow discussions.With the asking price being less than market GRMs then you likely have one or a combination of the following:1.

@Ozzy Sirimsi, and @Dave Visaya just learning how to use this function. lol

Most lenders require that a combination of the guaranty entitlement and any cash down payment must equal at least 25 percent of the reasonable value or sales price of the property, whichever is less.

For 2 people taking out a mortgage together it's increased to 5 times your combined earnings.

Either I can start to manage them all full time and start a small property management company and quit my job, or re-leverage after paying them off to diversify into commercial properties (hotels, apartments, etc)I figure 20 properties at $500 =$10kAfter paying off mortgages cashflow should be $20kThat's $240,000 a year which is more than me and my brother make combined now.I am most concerned with cashflow and purchase price of the property.

It's great area with combination of older communities and new communities like Riverstone, Telfair, Sienna etc., As @Louis Craig mentioned it's all higher price point.