Do you think that the price could be significantly negotiated down due to the fact the current owner of the property is out of state and out of business and only losing money right now by having this property under their belt?

@Carrie Giordano I can't really give out accurate advice based on one picture, but i would try to check with at least a state certified electrician to assess it, they usually have couple thousand hours as an electrician under their belt.

If you haven't already,the Ultimate Beginner's Guide is a great starting place, you may be past that, with over a year under your belt here already.  

So Cap Rate is just one tool in your belt that you can use to while reviewing your portfolio to see if you should take some of the gains or not.

We wanted to get some landlording experience under our belt before we took on a multi-family situation.Also, many of the smaller investors in our area that we've talked to are wary of multi-families.  

I am 25 and I want by 30 to have a few rentals and a good amount of flips under my belt.

When I see people who never took action, after 2 years not having a deal under their belt, having excuses instead of results, I don't understand...

I realize these dollar amounts are tiny but was really just trying to get my first deal under my belt and it ended up going into a world I am not familiar with.

I would politely tell them they need to go learn it like I did... not going to create my own competition.Same I think with successful wholesalers I would think the last thing on there agenda is to train all these newbies so they are direct competition.. now its one thing if your market is anywhere mid west or bigger rust belt city and its urban core props.. which there are thousands to be bought at anyone timebut again if your working a very hot market.. why would anyone do this seem like business suicide to me.

I didn't qualify because I don't have at least 15 transactions under my belt. =/ But I plan on re-applying once I do have that experience.