I was working with a mortgage broker I've used in the past and she was confident this refi would close no problem - she was just as shocked as I am.  

Here is a preliminary analysis that I started to make (I will have to fine tune the assumptions as I get more information).Actual Rent : $4,000 a month = $48,000-Vacancy ($4,000)-Maintenance (13%=$6,240)-Management (10%=$4,800)-Taxes ($11,000)-Insurance ($2,000, I assumed 48 cents per square foot)-Water ($3,600, I assumed $300 a month)NOI = $16,360-Cap Ex (5%=$2,400)Cashflow (assuming the property is owned free and clear )= $1163 per month.Let's assume a Cap rate of 10%, that would give me PRICE = $163,600 which seems incredibly low !

Everyone needs to make a profit, but you won't get sticker shock.

I did this with some tenants on a new duplex property I bought and was shocked at the result.  

I was shocked when I got the final numbers.

I was shocked watching a national multifamily conference from Marcus and Millichap where SLC was trading at such incredibly low cap rates.

I would've been shocked to get that bid.

I am shocked to see how few members prefer investing with cash only, no leverage. 

However, based on all of the preliminary research I've been doing the only thing casting some indecision in my head is whether I should.....

Lately, I have been a little shocked at some of the pricing I ave been getting from licensed and insured contractors to do work.