The $800 number doesn't really help in comparing to the OP's deal.

Plus your payments will be interest only, reducing your monthly debt compared to hard money.  

You may be suprised either way Why would you bother trying to pull comparable sales on a multi-unit building?  

Comparing apples to apples, Allstate has consistently been half of some of the other companies. 

Now compare that to taking on the risk of a project where you can manage the rehab and 100 aspects of a piece of real estate where you have almost total control of the outcome based on your knowledge and experience.  

It is only meaningful within a given local area as a means of comparing what folks are paying for similar cash flows.  

Some lenders will take your payment to your seller in full rather than a percentage compared to a lease payment.

Comparable 1 bed/1 bath in this area can get very pricey and other units in complex have been selling lately for 120-150k. 

I don't want to diminish the idea of keeping ourselves safe, but if you look at how many showings there are across the country compared to the number of incidents like this I'd say you're probably more likely to be injured or killed on the drive to the showing.

I was using the "class" system based on quality of tenets/safety of area/stability of area vs. more of a classification of the income/town itself...but I guess I could have said more of a A- minus compared to towns like summit :)