If you start with a large quadplex any mistakes will be multiplied 4 times....

So about  $1,650 a Month Multiply  $1,650 x .40% DTI =  $715Subtract from this a  $480 a month Mortgage payment  ( PITI )  +  $85 in Minimum Monthly Credit Card Payments (  one if  $40 minimum a month and the other one is $45 minimum monthly payment ) TOTAL =  $565  ( Monthly Debts The DTI Shows a MAX TOTAL you can Afford of  $715 a month $715 - $565 =  $150 So, the Minimum Payment on the 20 Year HELOC ( at a 7.15% Interest Rate , and Paying just Interest Only for the First 10 years  =  a Monthly Payment of right around  $120 $150  -  $120  =  $30 Left Over So this Shows that I should be able to get the HELOC , as I can Afford to make the Minimum Monthly Payment on the HELOC in the amount of  $115 a month I also Have a Good Enough Credit Score to have Qualified as well..... from what the Lender told me Is there anything I'm missing , that might stop me from qualifying from Getting this HELOC ?

My thoughts are, if I can figure cost on one unit rehab and multiply  x4 I can have a good idea of what it would the total rehab cost would be, and what the purchase price would have to be to make sense. 

Maybe you forgot to multiply the monthly expenses?

Recognize that if purchased at 75% LTV the appreciation on the REI is to be multiplied by 4 for appreciation on initial investment.  

And estimated taxes owed is total income minus total expenses (cash flow) then multiplied by your current tax rate.

Tenants pay for their own water.1957/month23484/yearlyEXPENSESmortgage: 745.11total operating expenses: 822.22 (includes vacancy, insurance, capex, electricity) = 1567.33/month18807.96/yearlyNOI:$13,617.40Income-Expense Ratio (2% Rule):1.09%Total Initial Equity:$41,200.00Gross Rent Multiplier:7.39Debt Coverage Ratio:1.52Cash flow is 389.67 and cash on cash roi is 11.49%.

If I had a 1200 square foot unit, I could multiply the $1.52 * 1200 to get $1824 per month target rent.

., 4% int.)Cash Flow: $12,671Cash on Cash: 3.52%Debt Coverage Ratio: 1.26Gross Rent Multiplier: 14.29Occupancy Break Even Point: 84.91%PROFORMAIncome: $158,400 (market rents)Expenses:  $23,205 (27.63% EGI, $3,867 per unit)NOI: $135,195Debt Service: $48,123 (30% down, 30yr am., 4% int.)Cash Flow: $87,071Cash on Cash: 24.19%Debt Coverage Ratio: 2.81Gross Rent Multiplier: 7.58Occupancy Break Even Point: 45.03%Exit StrategyPROFORMA VALUE: $2,703,900 (NOI/5 CAP)Cash-out Refinance: $2,027,925 (75% LTV) Loan Principal Balance: $840,000Initial Investment: $360,000 (down payment)Net Profit: $827,925

Multiply the credit limits you are able to get by 14.5%, don't let the balance of either card go above that.That number is your "I love you" budget for each month.Buy your significant other two things (one on each card) a month that total less than the 14.5% number.As soon as your bill comes, pay the balance off in full.The next day, go buy your significant other something else nice.