., based on the information in your post, I believe we are talking about a 30-year fixed-rate mortgage with an initial down payment of 5%.To have PMI removed, you need to lower your LTV (Loan-to-Value) ratio.1.

It only worth what it appraises for based on comps for 4 units and less.

Based on conversations with the agent, a virtual tour, and my own knowledge of the area, I live close by, I determined that APV.

4) Seek to help them solve their problem5) ask them what they need $ to get out of the house, and evaluate if you think that's possibleI'm learning to ask a tremendous amount of questions and am finding that I can keep the conversations going far longer than me offering my "insight", I'd encourage you to door knock these people and have a question based conversation so you can learn as much as you can about the property and make your decision on your course of action after that!  

We'd look at what the existing value of the property is the $ amount needed in repairs and how long that would take and the after repaired value of the property based on nearby comparable properties 

It turns out that for a year, minus the first "dead" month, I assume to extract a return of $12,000 (I also deducted one additional month based on the assumption of the necessary "additional investments" in repairs annually): $1,200 * 10 months = $12,000.Cash-on-cash return = Real estate income received for the year before taxes/amount invested.

I'm also a local CT based investor. 

Based on the popularity of the post, I thought it might be worth posting an update, especially because the outcome is quite ironic!

I would love to get a better understanding of what duplexes in this area actually sell for, and not just running my numbers based off of initial listing prices from owners.

A DSCR loan is a long-term loan with rent-ready conditions and uses the rental income to cover the expenses, including the loan payments.Both are asset-based loans, but only one is a DSCR loan (the rental loan).