I'm not saying that New England is cost prohibitive, but if you're low on capital it might make sense to evaluate all your options.

I would ask what the health concern is and then re-evaluate, but personally speaking, I wouldn't be scarred off by it. 

In my mind there is a progression from SFR to multis, to complexes, then to commercial.  

I wish you well, and I hope you share your story as you progress!

How would the real estate vets evaluate this deal and the viability?

Be careful that your real estate agent is advising on rents - ask him/her to validate those numbers.Regarding your evaluation, if you purchased at $495k, I calculate negative cash flow and return, even with rents of $4400. 

If you are going to buy it as a package then that i s how I would evaluate it. 

It can be helpful to quickly evaluate a deal by assuming a 20-50% operating expense, but I'd recommend getting more detailed.  

As you may have heard, the Polar Vortex was in full effect, and that really halted any progress that I was going to make with that property :-(.

Hi guys,I am currently evaluating a refinance with a blanket/portfolio loan to cash out for a purchase of a 13 units...I exploring both avenues for loan; 1) conventional loan via WF which quoted around 4.75-5.25% or 2) blanket/portfolio loan cash out from a private lender company for 6.25%.