Increased NOI thru increased section 8 rents ( have you factored in or increased vacancy) or decreased expenses  ( Have you considered RUBS for utilities to decrease expenses ) of $36,208 @9 cap should increase valuation to $402,311 at which point you could either attempt to sell or refi with commercial lender at 75% ltv and pull out your original 80k+ and simply enjoy the monthly cashflow.

If that's the case, the demand for coming to city would dissipate resulting in potential oversupply that is currently being constructed in an attempt to match the growing demand in the area.

But for a new entrant, this would be an endeavor of passion, and not of steady, sustainable YoY cash flow.Best of luck to all who are doing it, and thank you again for the advice.

Good luck on your endeavors.

I may have to re-think this whole endeavor. 

With one year worth of corporate tax return and 1099 tax returns from the year prior, I attempted to get conventional loans from banks this summer, but they were giving me such a hard time with the required documents as a employed person. 

With one year worth of corporate tax return and 1099 tax returns from the year prior, I attempted to get conventional loans from banks this summer, but they were giving me such a hard time with the required documents as a employed person. 

You can actually get 30somethingK SFH in Erie that aren't in awful parts of the town but I would suggest knowing the city areas well before attempting else you'll end up like some of these out of town investors buying on German St., Ash Street, Wayne, etc.

My question is has anybody attempted to use the Investor Carrot site to go after multifamily leads with any success? 

I’ve made several attempts with different lenders and it’s always a no-go or crazy internet rates.