However, 67213 is a very low income zip code (review city-data.com), with almost half the residents living below the poverty level.

Those taxes are a bit high... at 15% of GOI.Many use a 50% rule on expenses... your quoted expenses are a bit below that... and given how high your taxes are, I wouldn't be surprised if you were closer to 55%.

Yes, the vast majority were rejected, or countered too high to make a deal.But, on just a few occasions I was able to purchase a property far below asking price.The best one was an automotive repair facility I wanted.

"Disclosed Operating expenses:"RUN your own numbers.400 rent X 4 = 1,600 monthly X 12 = 19,20019,200 gross income divided by half.10% vacancy30% operating and expense10% managementYou have then 9,600 a year.At a 10 CAP you have 96,000 purchase price.1 beds have a lot more turnover than 2 beds do.The people get a boyfriend or girlfriend,get pregnant,family member or mom moves in and they now need a 2 bed.Pay attention to if 400 is at market or below market rent.If it's below market you can keep tenants staying for a long time.If it's high for the area or at market people will move as soon as their income starts falling to a cheaper alternative which creates more turnover.For each turnover you will have lost rent and re-condition costs.The 96,000 purchase price does not include immediate fixes.Example the roof needs redone,mechanicals only have 1 or 2 years left before having to replace etc.

I built a custom special needs residence that has no steps, either inside or outside, wider door opening, extremely low pile carpet, no cabinets below kitchen and bath sinks, wider halls, more exits, and a large shower with no lip.no curb between the floor and the shower.

This would certainly be low income housing.If I formed a non profit for this would section 42 of the code apply in any way?

I want my system kept clean, so should I provide filters for the HVAC?

The option actually has no value, as the writer of the option, the seller, can not perform on the option unless another party (the lien holder) agrees, or the seller is willing to bring money to the closing table to pay off the loan in full.Since the option has no value, any money received for the option is money that is being received by the seller because the lending institution is selling the property below market price.

This way your ratios will be lower for additional financing and you will not be obligated to make a higher payment during vacancies or other times of financial concerns.

But the problem however seems as far as I have read, most conventional lenders don't do commercial mortgage loans for below 750K(seen a couple i believe for 500k)Am I wrong?