Is it true they'll only go 3 months and 1/2 mile for comps now on govt loans?

I used to live over in Maplewood, a within a mile or so of the 3M HQ.

I am looking at a 10 plex (2 fourplexes and a duplex) in the an older, built out part of town 11/2 miles from the university built in 96 with a cap rate of 6.1% and a sales price of 650.

One was with an pond, one has amazing views and one is located on I-80 only 2 miles and stil quiet.And all well under $100k, the cheapest was $59k with 3bed and 1 bath, owner want here 20%.

They lived 40 miles away in Hilldale, UT and Colorado City, AZ.

Homes listed for sale in the same neighborhood range from $128k - $300k.Lots #2 and #3 are 50'x150', in a different town, and are 1.4 miles apart from one another.

And find the deal on the Internet from 3000 miles away.

But, the area I live in, which is about 20 miles away, doesn't fit their criteria to invest in.Now today and yesterday I have made three offers.

Below are the stats:Asking Price: 70 kDwn Pmt 20%: ~15kMortgage$365.92 (55k financed @7% 30 yr)Taxes400.35Insurance100 (have no clue what insurance would be (should be alot less)Maintenance80 (another guesstimation).prop mgmt160 (10% of gross rent) If I am not willing to manage myself.Total Expenses:$1,106.27 Gross Income:Conservatively: 1600, $1750(low avg w/in 1.5 mile radius according to Rentrange) If I go section 8 I can max 1450/month on 3/2 and 1200/month on 2/1= 2650!)...

Give em an inch and they will take a mile, right!