Now this isn't meant to me an accurate model, just a back of the napkin SWAG to let you ask the question: Is 6% worth the risk?

If your ARV and reno budget are accurate, this could make a good flip.

Before anything, make sure you're numbers are accurate. 

Starting my journey everyone mentions FHA on a 3-4 unit but when you look at the numbers in our higher priced market, rental control laws, and long term tenants I have found only one property that means the self sufficiency test and that was in the hood. 

And even though virtually every sponsor agreement allows me to share investment information with others who might be advising me on it (especially when club members are bound by an NDA), I still ask the sponsor if I can share it, because it's a test.

You may not be able to run an accurate balance sheet for each LLC.

I really don't want to drop out of college, I'm doing welding but I'm having a lot of trouble doing open butt roots on 6010, I've broken out on all but one test so my grade is horrible.

I'm impressed by how accurate your rehab cost was.

Here's a list of what we ask for in our LOIs and contracts:Operating financial statements for the property, including income statements, expense statements, capital expenditures, for the last two years of operation and year-to-date financial statements for 2020.Prior two (2) years tax returns and addendums for the Property.Current tenant leases, tenant correspondence, tenant credit information, tenant security deposit register, and delinquency report.Onsite staff payroll records to include salary, bonuses, payroll taxes, benefits, etc.Monthly owner statements and rent rolls for the past 12 months.Contracts, service agreements, and files pertaining to the property.List of maintenance all maintenance requests (complete and incomplete) for the last two years of operations.Real estate tax billings and assessments and other correspondence pertaining to real estate tax calculations at the property.Copy of Insurance Policy and claims documentation (loss runs).List of capital improvements and any and all necessary related documentation and warranties.All existing warranties and guarantees from architects, contractors, and material and equipment suppliers, all of which would be assigned to Purchase.Any existing environmental Phase I/II reports, engineering reports, soil, mold, radon, asbestos, hazardous substance, termite, or other tests, studies, or reports.Any existing appraisals.Itemized inventory of all personal property.Twelve (12) months of utility, water and sewer bills.Twelve (12) months of bank statements.Verification of additional income from operations including but not limited to application, pet, late, and other fees, etc.Copies of title policies, title reports, land surveys, site plans, deeds, or any architectural plans for the property.History of or pending litigation against the Property, its owners, or its managers related to the Property or the operation thereof.Such additional information, documentation, or access as Purchaser shall require

If the property info and owner info are accurate, the hit rate is very high, as is the accuracy of the information that comes back.