It's been an excellent tool for us, so we always recommend this loan to anyone who qualifies! 

For a 40-unit rental unit I can do 100% of the accounting in 4 hours every year, be accurate to the penny and convert it to an Excel file for my CPA.

This accuracy and ability to keep simple and accurate records is because I develop my own software applications with MS Access and I develop accounting systems that are foolproof, idiot-proof and my recordkeeping systems and software has checks and balances that totally eliminate mistakes.You can do the same for 3 units with paper and Excel.

At that price point, closing costs are roughly 20% of the purchase price, which makes the choice of financing or buying cash an easy one.The good news is, my monthly revenue will go up almost $200, but my COC % drops to 17%... still not bad.I closed on the property last week and I'm already looking for the next investment!

However, it is located in an area with an excellent school district that has seen steady appreciation. 

Used excel/quickbooks/Propertyware/Buildium in that order. 

Hi Misa - the good news is that you are looking in two very strong markets.

Purchase price: $315,000 Cash invested: $25,000 Great building with excellent cash flow.

The property is in excellent shape.

Economic fundamentals wise, they’re excellent.. society stupidity wise,... wait till June 1 and see how much the new qualifying rules tame the dragon.