Yes, you need to show bank statements (or some other financial institution like a brokerage account) showing sufficient cash reserves. 401K accounts can be used, too, though there is a discount factor to account for taxes and penalties.

When we were building a building and leasing office space to a State agency, every month there would be a team of architects, designers, space planners, leasing agents, etc. driving hundreds of miles to see what the progress of their space was.

These factors all work to drive price way, way, down.. especially in areas particularly susceptible to boom/bust cycles (see CA,NV,AZ,FL).The majority of the problem in this "mini-boom" is again supply, except this time it is the artificially LOW supply of homes.

It could also be that you have a junk offer for them and the sellers even though they haven't sold do not want your proposal.You can't force a seller to sign a rejection letter at least not in my state.The offer would simply expire without the seller accepting it unless there was not an expire date in the contract.Usually you want an expiration date to make a seller or buyer perform and move to action on a property.Just like with coupons expiring if you want the deal you have to act or wait for the next deal.With your owner finance do you have proof of funds to show,were you going to set up a 6 month reserve account for the property that is designated to pay the (owner finance) in advance??

Your ability to buy soon depends on a lot of factors.

Hopefully he factored that in.

These trusts are designed to house real estate within a grantor trust and provide limited access to grantor or beneficiary information contained in the trust instrument or known to the trustee.

I have google'd plexes and any similar key wordsi could think of, not finding many options for around the 16 plex range, finding mostly 4-6plex floor designs.

Based on the rents of $550 per month and a 25% factor (maybe high) for management, vacancy, etc., and a cap rate of 10%, I come out with a fully loaded ARV of $396K which seems absurd considering the neighborhood and the other apartments in the area.

This just seems to be designed for owners of larger portfolios than my 1 duplex so I am going a different direction.