@Jack B.From just a few things you mentioned, seems like this is a disaster waiting to happen.No real comps to speak of (I wouldn't count just the 1), not to mention it was $50k less.Tenants who are suspect. 

I'm looking for some recommendations on reliable and quality contractors that will walk properties with me to give me numbers.

Sounds to me like you are either speaking with a local conservative bank, or a misinformed individual.If you want to "play the credit game", one simple option is to open a credit card or 2, but don't use it. 

Higher returns typically come with higher risks.  12% on a rental property will probably be in lower quality neighborhoods, like B- or C, and most savvy investors will sharpen their stick enough to start poking holes in how that 12% shakes out.  

Understand that you are speaking to a Bank and they are trained to take advantage and they will making a good investment with your money with the down payment and the other fees they charge. 

Haven't seen a deal in some time that fits the formula (outside the hood) but that time WILL come again.For this point in the cycle we focus on stabilized, high quality assets with in place income and very little risk. 

I think above 900/month is where you start to get better quality tenants that won't destroy the place.

She’s preggo though so probably XLSounds good mate,Email Brooke on admin(at)engelorumora.com and I'll make sure get one for you :)Congratulations on the little one also :)Speak soon

Working on my network as we speak.  

Because a 2-4 unit property will serve as a forcing function to drive a multifamily deal with "training wheels," so to speak, before moving into larger multifamily deals (where folks should ultimately aim to focus in their bigger strategy, in my opinion).