The building is fully occupied, needs little work and cash-flows really well.I don't have the cash down payment to close on it currently.

It's currently owner occupied so not much to comp there either 

There are so many mom & pops who do manual rent collection, and whose goal is to stay at 100% physically occupied!

The issue is that if you are not licensed (if no NMLS number= no license) you cannot by law do an owner occupied loan therefore you do not know that the credit report means nothing when it comes to actual debt.

@David Neubauer - I'd recommend an owner occupied flip.

Bettendorf is mostly owner occupied and newer than Davenport, so that rule also applies to most of it as well.

HOAs can also put restrictions on rentals such as the percent of rentals vs. owner occupied.  

The office is occupied by a long term very secure tenant and the 63,000 sq ft area had a tenant leave.

I have a duplex in northern Detroit, Michigan (near Wayne State) that was recently rehabbed and is fully occupied.

Once we got the home reclassified at the 4% rate, the taxes dropped to under $600 with the same assessed value of the home.In my experience, rental property tends to be taxed at an actual rate of 6% while owner-occupied property has an actual rate between 0.5 and 0.7%.