It's been hectic and a bit scary for the last few months, trying to survive and learn as much as I can with the time I have.We worked on several bank owned foreclosed homes doing property preservation for about 10 months.

Yes I could "flip" them but that's not my "business model". I

They have not been able to survive the changing housing market and many popping up today will not survive either.  

The building would still survive in this fictitious dire world ... but would not be the best use of your capital if the opportunity cost is 8% -;   The ROI would be only 4%, the CoC 5.5%, but your debt coverage would still be 1.55 (good) and the Break even ration 72%.  

If they've survived a few years then they will probably do a good job for you and will be quick to tell you if you're wasting your time trying to get financing with them.

It helps also if most of the members of the committee and the President are real estate investors.They have a deeper understanding of the asset class and can more easily look at a project to loan on.The vision of the bank makes a difference if they are in rate mode or growth mode.

I have saved up about 20k in my saving but still ready to 'aim'and 'shoot' mode for my first Real Estate investing property.I am interesting in 2-4 units rental properties closed to Pierce county area and will have to use a 'dependable and trust-worthy' property managers to maintain my properties since I can't be a full time landlord/Realtor/management due to my work environment.I am a fresh 'newbie' as it can get since I have what-so-ever no experience in RE and want to build a strong network and find great mentors and friends so that not only I can learn but expand my knowledge and understanding of RE.BP has taught me the great knowledge of RE, what it takes to be a RE investor, what to avoid and cautious, and tons of extra information that I greatly greatly appreciate.

I think your business model is right where it should be.

Did they all survived or wiped out? 

its not alot of $ but im in save mode for my next multi unit. i have a monitoring service but for $30 i can see my report quarterly. im a rookie so any advice helps. sorry if this topic was discussed already.