In other words, you have conducted your due diligence and crunched the numbers.

Not only that, but you'll have to get the lines of your letter spaced with NASA-like accuracy so that it looks like the words are written on the lines of the paper.More complicated than us new guys first realize, right?

In other words, cap rates come from the numbers of other similar properties aka comps.

Are you sure about that, or did you word it wrong?

Based upon the wording of the advertisement, the underwriter concluded that the property was in-fact a rooming house and not being rented as an SFR - despite the fact she had a copy of the lease, the prior lease, and the bank had held the mortgage for 2-years prior.

I believe "allotment" is the word I should have used.

@Anthony P.I appreciate the kind words my friend!

It also gets you out in the field where you can spread the word of your interest in real estate.

You can cancel the the contract and get your EM back.orYou can talk to the seller to figure out what's going on and let her know you think she should honor her contractorYou can have an attorney write a strongly worded letter saying you will sue on the contract (but you won't), hoping she'll performor You can offer to settle it with her.

Be sure to set key word alerts as well to keep up on topics that interest you.I understand you concern on low returns, rents in my area are closer to .7% rather than the 1.1 to 1.5 you have available.