Maybe a good deal, so long as you have looked at other factors - it's not in a rapidly depreciating area, for example.Market value is really just a running average of numbers, constantly shifting.

@Gino Barbaro is dead on when he pointed out above, this is a different era and the CAP rates have remained compressed longer than most MF investors have expected due to three factors 1)Downsizing Baby Boomers, 2) Gen X/Millennnials delaying the purchase of a house, and the rapid growth of migrant population coming from countries where home ownership is not even a possibility for most. 

Scan craigslist, newspapers.

Don't get me wrong, I love the idea of being free and clear as rapidly as possible (and you still can!)

Then I just scan a copy of the bill and ask the tenant to reimburse for that utility, as well as ask them to move it to their name.

It's been in business for 60 yrs roughly but declining rapidly.  

I'm looking at investing in the Grand Rapids-Wyoming region.

I personally use the "TurboScan" app to scan the contract right there and email it to them.  

Investment Info:Single-family residence buy & hold investment in Grand Rapids.

I would use either a credit repair company so that you can get a rapid rescore or go with a short term loan then refi after a year however you have to make sure that you will qualify for that refi based on credit and possibly DTI depending on which lender you go with