Sometimes a bank will still cap the 1st and 2nd combined at 80%.Good luck!

Also, just a reminder that you are financing 96.5% of the purchase price, so it's going to be very very hard and almost impossible to have "Actual cash flow" (this is when you calculate in vacancy, cap ex, maintenance/reapirs) in your numbers.  

REI Gurus,I am a new investor from St.Louis and closed on my first property this week after getting stuck with analysis paralysis for over 6 months. 2021 Goal achieved, a lot of people here at BP extended help very grateful for that.I am now getting ready to list my property for rent and I am not able to get all the features working on the Steam Shower Jet Tub like the foot massager, jet options. 

They’ve already seen incredible gains in value from cap rate compression.

For example, if you are looking to connect with other members near you, want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/users

(gross rent minus expenses, lighting, debt service)Currently, the deal is priced at about a 9% cap rate, so I imagine the location is quite rural?

The deal almost meets the 2% rule and is above a 10 cap.

Loan origination fee is capped at $250 for executive members. 

I am trying to cap my next purchase at about $300k with a monthly return of ~$400 (have not found a place as I want to make sure my financial plan is solid before moving forward.Thank you in advance

@Jonny Mcknight depending on the property type (commercial or residential), the offer price should be based either on recent comps or cap rate.