If you make your desired return off of cash flow or value add alone, then go ahead.

Most lenders require or at least strongly desire investment vehicles to be single purpose/asset

I was considering a similar route but condo fees are super high in the more desirable developments ($800-900/month).  

It was not my peers in the same boat, it was people and services with the means.I believe being late to the game, experiencing the results of poor choices, gave me an immense appreciation for those that are able to help raise others up and gave me the strong desire to become such a person myself, within the community.The way I see it, this business is a means to an end, to be of service.

I think it matches how you are thinking about your business, but it doesn't match what your desired acquisition or "disposition" sides are thinking.

Here's the numbers.Rent: $549 per month per unit (their numbers say $585 I think they include coin laundry) - $26,352 annualExpenses: $11,200 total annual (I factored 60% off gross because landlord pays water/trash)Taxes - $2568 annuallyNO I - $15,152List Price: $145,000 (per four plex)Cap Rate: 10.4Located in a desirable neighborhood/great school district surrounded by newer single family houses/condos.I have the capacity to buy #3 or maybe all 4 of the four plexes depending on deal I can get (15-20 % down, 4-5% interest rate on conventional 30 yr.

Anyway...back to the point...The rep that I just encountered from this group had advertised a property in a very desirable portion of North Dallas...an area of particular interest to me.  

When you put a lot of well compensated employees in a desirable living area, they drive real estate prices to max pain.

If you are planning to flip it you want to buy it at a price that will give you your desired profit based on what other similar properties in the are are selling for.  

It was referring to the fact that all real estate markets are different, and following.. the employment, income, demographics, supply of land & housing, desirability, demand, etc. in that particular local market will determine what happens there..