There are some new guidelines going into effect in August 2015. 

Just my opinion however.Here is a stabilized look at the property:9,500 market rent (all 14 units at the rents you mention above)- 15% for vacancy, concessions and loss-to-lease = $8,075 effective gross incomesx 50% expenses= $4,037 monthly NOIx 12 months = $48,444 annual [email protected]% cap rate (lowest I'd go in this area) = $569,292

Though private investors are a little less selective at times.  

You can send an offer directly to the seller without going through the agent but that may not be very effective.

LLC bank account, and things go from there.Also, if you are paying them interest etc, it is best to do this on a quarterly or better, yearly payment, due to cost and hassles involved in multiple small international transfers - more cost effective in one big lump.Hope this helps....

This selection is extremely important because they management your asset!  

I guess I've been over reactioning to the effect soft hits have.

@Steve WilmersSteve, we go to Williams Kitchen & Bath. (616) 771-0492 I work with Amber and they have a good selection and great prices.

It will effect transactions all over the country. 

Most properties do not make sense from cash flow perspective though so investors need to be selective, but looks like the potential is great.