.: $16,450Marketing/Promotion: $1,431Trash: $1,961Supplies: $1,579Water Testing: $3,177Misc: $350Total Expenses: $53,370NOI: $53,555Cap Rate: ~ 7.5%Cash on Cash: ~12% (based on 20% down and 30 year am at 5% - still finalizing loan terms so subject to change)DSCR: 1.46x50% Rule ($/unit/mo): $117.171% Rule: 1.31%GRM: 6.36Debt Yield: 9.55% (based on 20% down)Property is in overall good condition but could use some upgrading. 

We selected "no" because the application specifically mentioned violent and drug-related crimes, but apparently we answered incorrectly.

Too much crime, blight, and open air drug markets that 99% of investors want no part of.  

Because a partner's approval can not be unreasonably denied, not a good tactic if you get sued and everything in a contract needs to be first class, needs to hold up in front of a judge, otherwise, why have good contracts.The financing contingency is the strongest one you have, it is customary, it's been tested in courts, it allows a lender to say no for many reasons, if it has a bad inspection it needs to be fixed or they don't lend!

I think online is better than classroom...learn at your own pace and absorb more.Once you finish courses and pass the test, your broker you associate with is really where most of your knowledge will come from.

It would also pass the 2% test.

We'd be very happy just to break even.We had a bunch of initial expenses - lead testing revealed we had to replace all the windows and the oil furnace died so we are in the process of upgrading it to natural gas.

Test different areas, most of my deals have come in certain areas (sorry don't want to say which ones).

Before I take the national/state test to get my license, should I go ahead and do the 24 hour practice course first?  

However, if there is any credit history of rent payment issues, it's a pass.We also have a zero tolerance for repeated drug history or domestic violence on a background check.