If you did you'd probably charge a lot of money and probably give low limits so you can protect yourself.

Your total expenses (not including debt service) is coming in at 30% of GSR, that's really low, like REALLY low.

This is because traditional banks/lenders are going to go off the income you report to the IRS, which especially for small business is typically really low after expenses/write-offs (investors often run into these issues as well after investment property write-offs).

Not knowing anything about this property or area, the rehab cost seems really low for a house that cheap that is expected rent for 1600.

I know the mentor's going to help you, but if you're in low-income rentals, as I am, there's no substitute for having a working relationship with a highly experienced local real estate lawyer over a period of years.I've made the same mistakes and relied on the same sort of people.

2) 2% for repairs seem low for a 4-unit. 3) 2% for vacancy seems low as well. 4) i would go 10%-15% overall for a vacancy and repairs budget. dependent on area and tenant base.

But if its in my name I can keep an eye on the bill to ensure they are using heat to keep the pipes from freezing and making sure there are no bad leaks (if bill goes to high). 

He ate Ramen noodles and oatmeal every day.

Water bill looks very low for a 16 family and you will see higher expenses.

I know there are incentives or rebates through focus on energy, but with that program we cannot replace any of our heaters since they do not have incentives for electric base boards heaters and you need to replace your heating source with the same heating technology.