Don't feel bad, my $120k cash purchase cost me $8,469.63 to close...

I guess she has been there for a number of years and the place is still standing so can't be that bad... 

There is never a bad time to invest in real estate, but there are certainly bad investments out there.

For someone that's not as conservative, or a different view on the next recession, they might have a different opinion than me on all of this2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

With a LOC like that, the Brrrr strategy could be an excellent choice for you.  10 years of one 4 plex per year will be 40 units. 

She will be a bad choice as a tenant.Be thankful she asked so you can reject her application.

Bought the 6 family at a bad time (early 2007), paid too much, and it needed too much, but somehow it seemed like a good idea at the time! 

You can also buy properties that a bank wouldn't give a mortgage on, say I could with a really bad roof. 

My option period starts Friday and I am having serious doubts that Irby won’t appraise and I may have my firstborn deal be a bad one.

From what I understand, it seems I will need to verify how the transfer was done in 2007 (quit claim (bad?)