@Kraig Kujawa, since the 6 units we just closed on have seller-financing, those don't count against my "10 Fannie Mae" properties. 

The property doesn't even show up on Zillow, so I don't even know the bedroom count etc. 

The appraiser should include at minimum 1 comp that has the same square feet  and 1 comp that has the same bedroom and bathroom count as the subject.

And this doesn't even count all the other benefits that comes with the MLS.  

Before you count it out, know there are cheaper options, for example going from a community college to a 4 year institution.

(And I really do prefer just 1, and who doesn't for a 500sf studio, but oh well)For the purposes of number of occupants, minors count as occupants, so if you are limiting occupancy to 2 per bedroom (counting studio as a 1 bedroom), then you can deny a couple who has 1 or more kids. 

At 50% expenses, that gets you to a 10% cap rate.Even unleveraged, with token appreciation of 3%, real estate handily defeats stocks.

an interesting idea that popped into my head has me wondering whether it is creative genius or technically criminal. so i am asking this community  (would be great if a real estate attorney could chime in) if anyone knows whether the law somehow would be against this, or if it is allowable.the idea: A) my LLC (of which i am the manager) gets a land contract on a house for less than $100 earnest money ($200/mo until $10k is paid)B) since the property has an ARV of $40k, i personally get an FHA loan to buy it from the LLCC) LLC pays off original owner and has $30k left to invest in new dealsD) i make my payments to FHA lenderE) eventually LLC makes enough to pay me high enough salary to then pay off mortgageparts 2-10 of the question: if i have little to no cash to spend (might need 10% down for FHA loan [$4k]) can my LLC give me credit for the $4k (maybe for prior rents paid, or sweat equity repairs) and that count as my down payment within FHA standards?

I would just make sure when you talk to them first ask for the services with out saying your unit count then ask for a price quote per unit.

So I would not count out any neighborhood here in Sioux Falls, and after reading your post a couple of times maybe you was not just talking about sioux falls rather more  South Dakota all together.