They probably got in trouble for the 4plex and we’re forced to turn it back, so the property could already be on the towns radar.As far as comps go if there are any multi-families within a few miles they’ll use them as comps and adjust them to try to make them comparable.

the risk though as you state is you have folks trying to do their first one who don't live anywhere near the project.there is a reason most banks wont lend on construction projects to anyone who lives more than 100 miles from the project .. they learned this over a very long period of construction lending.and your right the spreads are simply not there to achieve the perfect BRRRR  locals can probably get it done. but out of state pretty tough.. to very rare.. so then if your leaving equity in ..   

I am on the southeast side of Chicago, in the south Chicago neighborhood and my AC has a burning smell when running.

Total population 1 Mile: 10,871 / 3 Mile: 82,115 / 5 Mile: 292,5896 Competitors within 1-3 Mile RadiusGross Income at current 76% Occupancy $3,818.24 Gross Income at standard 85% Occupancy $4,270.4035% Standard Expense $1,758.40PI Loan @ 8.25% 1,899.75 (20% down on 325K)Easy Storage Solutions Call Center $195Easy Storage Solutions Website $49Total Expenses: $3902.15 My NOI / Mo with the current rate and asking price would be -$83.91.

We are planning on moving to a town about 25 miles away.

In a tornado, a tree from a 1/4 mile away may get picked up and dropped into the house.

I would like to pay these credit cards off asap and possibly keep using them for the airline miles they offer until the interest rate starts. 

My wife and I live like a mile south of Nashua.

@Jonathan Schwartz @Jason Marcordes it’s in Logan square, about 1/2 mile west of the blue line stop.  

I'm your age and have a professional job as I guess you do, and my car is a 2003 Toyota Matrix with 100k miles on it.