A few rainy weekends in the spring can kill the entire year.3) $75k for the owner is very slim.4) $900k in debt is huge.

I agree that it makes sense to stay safe early on.Something that most seasoned listing agents know, that you may not know, and that your LO may not have told you, is that most triplexes and fourplexes in the SF Bay Area at MLS prices will not meet the FHA "self sufficiency" test.

WI is a judicial state so, foreclosures happen in the courts for the lender to get their judgement to proceed with sale.Even though there may be a redemption period for up to a year, the likelihood of that happening is slim.

Also, another great underwriting tip is to stress test your numbers.

But the good ones that have sustainable business models - those companies that survive the test of time, have capital and operating reserves - and even have a "war chest" for mergers and acquisitions.

If it does not pass their sniff test, they can hold up the process for fear you are lying about something.

If he says the DSCR, I would look at the DSCR for the bank loan and make sure you're comfortable that it's enough to cover, stress test it and make sure your downsides are covered. 

Could you rely on the refinery's drug testing?

If there is mold in the property you should hire a mold specialist to test the mold. 

@Craig Jeppesen completely correct, the margins would probably be extremely slim if not non existent.