Ideally it will appraise where you would be at a 75% LTV or lower with your down payment.The rate can be slightly higher to compensate for the lower down payment, but it should in line with currently available bank loan rates.

@Ben Leybovich I definitely agree with the premise, people should know how to use the tool and ideally know how each number is derived and what is behind it.

Yes, I deal with clients in majority of the different states.  

If so, whats your Ideal tenant?

Think about it, I'm not even trying at this point to purchase properties at 70-80 cents on the dollar which is ideal for us investors, these were deals where multiple offers were made at or even above market value.

There are several benefits to buying foreclosures at auction:Unlimited inventory (generally)Very limited competitionProperties are always below current market value (minimized risk)Ideal scenario for any exit strategy (rehab, wholesale, retail, rental, etc).......just to name a few.Let me know if you need help with getting started!

You either meet the ideal norm or your loan gets denied. 

Ideally a MFR would be what I want but there are so few in my area relative to my job that it is hard to find one.

Yes, that is the ideal situation. 

That could be the ideal scenario to consider.