Chapter 11, "Hone Your Skills" section has this practice question: "What is the IRR of an investment that costs $75,000 up front, earns you $22,000 per year for four years, and then generates $115,000 at sale?"

The other markets might be as well, but what I know about my market is we saw 2% appreciation throughout our mls last year despite the national news of real estate being in a decline… we are so insulated from the “bubble” conversation.

Hi Everyone, I am a licensed agent in PA.

Considering the fact the prop is vacant at "not so ideal" time of the year to be re-leased.

Account Closed    For a conventional loan IF the rental income is not on the tax returns because, for example,  you purchased the property in Jan of this year you can use 75% of the lease to cover your debt.

If I am still responsible for the lein any tips or advice on the ability to negotiate the 12 years interest they are probably going to want to charge on the lein? 

I’m a residential superintendent in NYC which requires me to live on-site so, from my understating I don’t think I will qualify for a FHA loan on a multi-family because that requires me to live in one unit for a year.

I do not know about the "every two years part of it though".

My thought was I could purchase the property, break even, and refinance in a couple years when rates hopefully come down. 

If the later is the case, unless your contract with that buyer had specific performance language in it, there is nothing you can do.As to the advice above about potentially clouding title, you are now entering the legal realm and you should NOT be taking legal advice from anyone other than your attorney as clouding title in THIS case can swing back at you from the original sellers for not performing and claiming damages against you.If you intend to wholesale, you need to do it legally and ethically and in many states, that requires either a license, closing on it with your funds or borrowed funds, then marketing for resale once you have title, or having your buyer upfront, forming a legal entity with both you and buyer as owners.