If you answer affirmative on each of those questions the next question is whether there is a better investment option available.LA historically appreciates going back more than 50 years at rate higher than inflation and higher than RE in the average locale.  

Mainly because syndicators who advertise deals are so far above the average investor that they arent going to need your help. 

Bottom line I would have to put in all this money and work, to get a average return.

Average renter stays 2 years in an apartment 4 years in a house.

There may be an amended 2016 tax return, as well as a more honest 2017 tax return, in your near future, wherein you report all your tip income, allowing the lender to take a 2 year average.

So, not really for the average mom and pop investor.

There’s nothing arbitrary about them.....they’ve been in place for years, are common knowledge in the industry and are pretty straight forward.

I have owned a couple single family rentals, and I am looking to make the move into smaller apartment buildings.I have found a 24 unit building, and I am wondering what the average price per door I should be offering.2 bed / 1 bath apartments go for about $650/MO. here in Michigan.

Average home value here is $130-$150k. 

I know a lot of people here, related to the real estate industries and otherwise.