I'm also calculating 20% of the rent in capital expenditures and maintenance ($440 per month).I did run the rents through rentometer.com and the average is $950. 

If you do this you better be 100 percent sure you know what you’re doing or understand that if you lose the money it won’t mean financial ruin to your parents or brother.I personally would not do this.

If that value gives you enough equity then you don’t need more money down.I think most seller financed deals have an interest rate 1-2 percent above 30 year fixed.

Details in MLSUnits: 6Taxes: $5874 (annual)Gross Income: $48,600 ($675 per month)Net Operating Income $38,838Total Expenses: $9762Vacancy Rate: 5%Asking Price: $449KOwner pays Trash & Water______________________________________________________________Based on the expenses I am assuming that the property management is completed by the owner and that they are including ~$4K a year in insurance.I ran the numbers in my own Deal Analyzer and I added:5% of Effective Gross Income as Maintenance Expense 10% of Effective Gross Income as Property Management ExpenseBumped the vacancy rate from 5% to 10%Insurance: $3000 (annual $500 per door)Water: $3240 ($45 per door - typical in city)Trash: $1,800 ($25 per door - complete guess)$12K for improvements ($2k per door)20 year note @ 5% with 20% down (assuming full asking price)2% Closing costs______________________________________________________________My numbers show a Cap Rate of 5.7%, cash on cash return of -5.12% and -$1,668 of annual cash flow. 

Just my two cents. 

Adding bedrooms or bathrooms, low price per SQFT, etc.    

I buy using a commercial loan for SFH from a local credit union which allows 20% down on purchase and cover 100% of repairs per contractors quote.  

Loan balance is $175k at end of year 3.Assume sale price is $300,000 in year 3. 6% commission paid.Projected Gross Rent: $2,000 per monthProjected CF Y1: $6,000 (DIY PM, 0% vacancy)0% vacancy is to keep this simple.

This raises the question, do I limit myself to just one broker per City to find deals?

This raises the question, do I limit myself to just one broker per City to find deals?