I have asked before, when I have submitted my documents, if we can order the appraisal right away because it does seem to be the biggest factor in delaying the timeline.  

Taking into account many other factors will ultimately determine a good cost estimate. 

The success of a short sale will be dependent upon a number of factors......a real hardship on the part of the borrowers, the number and type of liens and who holds them.

Once you factor in those additional fees, I would think your rate is not too competitive. 

REIA, FB, TXREIC, Lifestyles Unlimited, etc., that noted that the success of any of the paid mentoring program depends a lot on who you get.

Location, amenities, and any number of other factors will play into it.Don't be afraid to contact the seller and ask for historical expenses and turnover rates.

If you want the quick formula for your SFR:PGI (potential gross income)-VCL (vacancy and credit losses)+OI (other income--laundromat, cable etc)=EGI (effective gross income)-OE (operating expenses)=NOI (net operating income)If you get financing, you do not factor that into this equation.

Aside from the groups that @James Palinmentioned, here is one that I believe focuses on multi-family:http://www.txreic.com/If you want to pay for some training and mentoring, Lifestyles can teach you about how to become a multi-family investor, but the cost is quite high.

I guess you have to factor your commute time also. 

Will a conventional lender use the 3k or the 1.2k to factor my DTI?