Chase ACH counts as DD.  

However, I am hesitant to do this flip cross country solo without an amazing foreman or GC.I was thinking of partnering with a GC in Tampa that can handle the construction side and reduce costs on that front while I can find the deal, run numbers, offer 1/2 the deposit for a hard money loan, and list the property to save 3% on closing costs.Ideally this would be 1-2 flips per month after the first successful project.What do you think of this proposal?

For example, If the sale price is $100,000 and the gross monthly rents are $2000 the gross rent multiplier (monthly) is 50.As long as your sales are in the same neighborhood, have similar number of units, and the same utility payment structures (water, electric, heat, etc), this GRM approach from an income standpoint will give you a good range of values.You should find that your comps have a fairly narrow range of GRMs and that differences in GRMs can be explained based upon differences between the properties like condition, location, bedroom count, etc.Take the market GRMs and then compare to the market or contract rents for your subject property and this will give an Income Approach value.Compare the Income Approach Value and the Sales comparison approach value based upon which Approach has better and more relevant data and then you have basically done an appraisal

@Kevin Cross, and Adam are great people.

Because I know the Boston Market, I was able to cross reference the data they presented with what I'm seeing in real life.

Those who say Memphis has received too much attention and is no longer a good option as an investment city - insert the Tom Ott reference above here, can almost always be counted on for offering a different city to invest in where they do business and will make money.  

The rate will be higher on both mortgages as the loan to value crosses over the 80% threshold.

Don't count on it but if you're selective and know the market, it will more than cover your selling costs when the time comes.

Hello BP Community,I will possibly be a first-time homeowner in a month or so (crossing fingers here); however, I need the help of the BP Community to analyze the deal.

However the basic fundamentals of being a "good" landlord is what crosses over and is important no matter if you are room renting, multi-fam or commercial landlording.Good luck Harry!