or 75%, whichever is lower---- is wrong in delayed financing exception.Do you want to buy four houses and then stop?

I know the pain of going through the Best and Final rounds, certainly is stressful.

I originally was looking for the mythical 'structurally sound but killer deal because it has some broken windows and  hasn't been remodeled since the 1940s' type of place, but I've since lowered my standards to include properties with major foundation issues and the like.

the spread was usually 10% or so..But for sure if a deal is stressed because 6% money only works and 7 or 8% money throws it out then those are some really tight spreads to be working with.. and one would not want to be signing up for 3 to 5 year call notes. 

I would much rather live stress free from owning this outright, rather than leveraging myself and laying down at night thinking about all the things that could go wrong.After I have this rental set up, I would then look to do it again and again and again and build a business around it. 

I want to get out of the rat race and the last few days of listening to my coworkers just stress about trying to get promoted for more money or worry about if they go home on leave will they have enough money and so on.

It will lower the loan amount and reduce the Mortgage payment.  

I've even thought about the idea of buying a lower value home and do a live-in flip.

I haven't pulled comps official comps yet, but just doing some self-assessment via Zillow with similarish homes sold in the last 6 months, this house already priced $25k lower than what those sold for (I say "similarish" because they were remodeled, had garages instead of being a duplex, etc.), which makes me think the sinkhole is NOT already fixed (this is a question I have out to my agent). 

I agree with Mike, Worcester will allow you to get the CAP rate you want at a lower price point.