(The exact legal description to be supplied in escrow). 

Right now I am cautious on multi-family because of the large amounts of supply that have come online and are continuing to come online in Vancouver, WA. 

Lot's of supply in that area.

I know leverage will pay off in the long run & I will not have trouble affording the loan but i have been hoarding money & want to invest in real estate aggressively with my 1st time home buyers loan.

If the price increases are driven by actual supply/demand of people wanting to actually LIVE somewhere, its different.

Even if demand is flat, the supply of in fill locations continues to decline.

Chances are they have done similar work in that neighborhood.Next, call the utility company that supplies the gas and see if they will give you an average bill for at least the last year.

I like the economics, business environments, supply restrictions and general lack of sexiness these areas have today.With all that said, I think even these areas are generally over-priced today.

After Repair Value: $130,000Closing Costs at time of purchase: $2929Monthly Holding Costs: $1,370Interest Payments: $570Property Taxes: $620Electricity: $50Water: $30Insurance $100Number of months holding costs: 9Total carrying costs: $21,889Repairs $47,242 + 10% Contingency = $51,966 TASK UNIT Materials Needed Line Item Cost Asphalt Shingles Per Square 20 $4,400.00 Aluminum Gutter Per LF 150 $675.00 Pressure Wash Per House 1 $150.00 Vinyl Siding Per Square 1 $265.00 Paint Exterior Per Floor SF 100 $137.50 Lawn Maintenance Per 1/4 Acre 2 $70.00 Trim Bushes Per Yard 3 $120.00 Remove Tree Per Tree $1,000.00 Fix Foundation Wall Per LF 60 $9,000.00 Roll-Off Dumpster Dumpster 1 $350.00 Full Demo Per SF 2400 $960.00 Service Call Per Hour 8 $680.00 Natural Gas Hot Water Heater - 50 Gallon Per House 1 $710.00 Replace All Supply Lines Per Fixture 5 $1,000.00 Install/Replace Tub Per Tub 1 $350.00 Build Tile Shower Per SF 70 $1,365.00 Kitchen Sink Per Sink 1 $120.00 Bathroom Sink Per Sink 2 $140.00 Kitchen Faucet Per Sink 1 $90.00 Bathroom Faucet Per Sink 2 $140.00 Trim Kit Only Per Tub 1 $130.00 Install/Replace Toilet Per Toilet 2 $340.00 Install Dishwasher Per House 1 $430.00 Install Can Light Per Can 10 $650.00 Replace Furnace Per Unit 1 $1,100.00 Loose-Fill Insulation Per SF 100 $100.00 Wall Board Per SF 1000 $1,160.00 Exterior Door Per Door 1 $800.00 Interior Door Per Door 10 $1,700.00 Replace Window Per Window 10 $2,000.00 Repaint Per Floor SF 1400 $3,150.00 Install Kitchen Cabinets Per linear inch 240 $2,040.00 25" Vanity Per Vanity 2 $300.00 Granite Countertops Per SF 50 $1,600.00 Install Carpet/Pad Per SY 45 $180.00 Carpet+Pad Material Per SF 400 $700.00 Install Laminate Wood Per SF 1300 $3,250.00 Install Tile Per SF 100 $550.00 Permits Per House 1 $200.00 Refrigerator Per Appliance 1 $1,100.00 Range Per Appliance 1 $900.00 Dishwasher Per Appliance 1 $700.00 Microwave Per Appliance 1 $440.00 Washer/Dryer Set Per Set 1 $2,000.00 Commission to Realtor at time of Sale 7% - $9,100Offer Price: $32,000 Potential Profit: $23,044

The larger bank reviewed all loans and decided they didn't like the 'aggressive nature' of their loans to us.