Since you asked...Our focus for this winter/spring is a mixed use project...we bought a hotel built in 1870 through a purchase money mortgage...we're adding 3 high-end guest suites for a BnB, building in a 2BR apartment for stable cash flow, and opening a gallery for the local artist community...we have plans for a tap room or wine bar in the future at the same site as well... wow that sounds like a cool project. 

Sounds like great numbers. 

Although their theory was “sound” it didn’t work.

In my opinion this sounds like a substantial investment, and there are plenty of solid multi-family renters in the following markets:DearbornDearborn Heights Melvindale Westland& other cities immediately North, East, or West, of Detroit You're spot on about renters paying less for a duplex over a SFH but as you progress in the multi-family market you'll notice the differences aren't much if you choose the right property, construction finishes/overhead, tenant screening processes. 

Either way I'm not sure it sounds like you can trust this guy so I would look into everything he told you.

You can either update it more, stage it with modern furniture (remove family photos, knick knacks) or drop the price.

Originally posted by @Jason Graves:@Cody L.I’m an accredited investor looking to next work w others here in San Diego.Let’s connect Sounds good.

Sounds like I should stick to my numbers and keep searching through the different sources.

@Joshua Ketter good job - it sounds like you nailed your purchase price to allow plenty of cushion. 

There has been a situation in which the seller said " hey what if you fix my house and we split the profit" sounded great to me.