It appears the units are below market, however with some cosmetic repairs and perhaps some capex's I feel I could increase the rent by at minimum (based on local comps) 68%.I would offer 85% of list and estimated $20,000 in repairs/upgrades (this is probably a generous estimate - the property appears to be in good shape, basically needs a face lift).With all these figures, including the 50% rule, financing with 20% down @ 3.5%, I come out to a profit of $262 per unit and a cash-on-cash return of 9.53%.So, does this seems reasonable?

The reason why I am asking is because I'm looking at fourplexs in my area and it seems the average price is $ 200,000.

It seems to me that the market is really a sellers' market at the moment.  

It seems like the right thing to do as far as pro-rate the rent...that's why I brought the question to the mass population!  

I'm not a creative financing guy but this seems like a deal that may work for some other investors.

Seems like that is the best way.

Seems like your issue with the builder and the bank is the definition of "complete".

I found a property with a 3/2/2 SFR on .25 acres AND 2-two unit apartments on side.  It was UNDER $200,000 and from the photos of the SFR it was move in ready.  I want to go look at the apts, as they looked to be in g...

I can't seem to get over this hurdle..

I want to invest so badly but I need to learn a lot more first it seems because it's almost to easy.