In cases like this; I have found that it's all about finding the situation you and all other involved parties are comfortable with from a livability standpoint - while still offering ample upside as an investment.Don't get me wrong; when you bring the personal/emotional element into the purchase decision it definitely makes getting deals to pencil out more challenging. 

He explained that it failed because with CDO's, you are essentially shorting housing using mortgages and in his opinion there is a disconnect between mortgages and homes.

I called both banks and they basically said he initiated it on the 3rd.The way I see it he essentially put the check in the mail on the 3rd and he's trying to say he paid within my grace period.

In addition to the location.So there are two essential parts: Location and Quality of the building and amenitiesQuality of the building and amenitiesWhen it comes to the Quality of the building and amenitieshere is how I would approach it.A Class, also referred to an institutional product (meaning that a REIT, a Pension Fund etc. would buy this property)If you have a new apartment complex (less than 4 years old), with high end finishes in the units (Bluetooth speakers in the showers anyone?)

A good plan is essential to saving you time and money.

As-is the estimated NOI is essentially ZERO - leaving no room for debt service, profit or anything else.

I would also pull the elements every 1-2-3 years  (start at 1 and then judge how bad they are before fixing on a schedule)  A tankless water heater will require acidic flushing At Least every year.  

Essentially, this means that you are personally responsible for all tax payments and filings.

Anything of 4 units or less is essentially a house (residential property) and no more difficult to look after than a SFH.  

@Lorin K.For this remodeled 3 bedroom 1 bath 1270 Sq Ft Home.I'm expecting $1350 and I believe it can sell for $135,000+ so it's right at 1% for essentially a turn key property.