So I now ask you: What FEDERAL internal revenue code section, treasury regulation, revenue procedure, revenue ruling, or case law are you basing your position on? 

Gaspare,The reason the buyer asked a credit is to reduce their downpayment and increase their cash on cash and their Internal Rate of Return.For example, (and I will use round numbers so it's easier to calculate and remember) let's say the purchase price is $1M and the buyer can qualify for financing if the downpayment is 25% or $250,000.

That's 250k airline miles every single week, and the average international round trip flight is only about 60k points. 

Two degrees in math and one in international relations.One very analytical and one soft science.  

International airportBut let me ask you this, if all you are looking for is cash flow why don’t you take your money down to the Central Valley?

He is an international student/educator.

His book is basically a tool in the toolbox.I've also given his book to every intern I've had at work.  

My numbers look like:Gross: 1200 Operation expenses budget: vacancy 60 - management (done by me but budgeted in case I need to hire a PM) 120 - taxes 110 - insurance 60 - est maintenance 75NOI: 660Financing: ~550Capital Expense Reserve savings: 50 (only responsible for HVAC and internal plumbing)Cash Flow: ~60Considering I plan to manage the property myself and the townhouse is in excellent shape I may cash flow the management and some of the maintenance costs on good months. 

But right around the end of Q3, they really tightened up the loans they were making because they hit their internal benchmark for how much of their portfolio they wanted in SoCal apartments.How much did you put down for the 4 plex?

We are data geeks here and from my 20 years in aviation in finance and marketing, as well as International Business via WSU, we track everything.