I've done some research on wraps and I've got a couple of questions.

I got the numbers from some research online but it certainly wouldn't hurt to up the estimate to be safe.

I guess there's more research to be done.

Most people prefer direct mailers and become yellow letter specialists by researching the law of averages, templates, yellow letter vs regular letter, and even stuff like mailing on or near a full moon (I have no idea).

I've been reading about the 2 percent and 50 percent rule and researched on different locations for properties that cash flow.

I'm not sure about finding deals in NYC, I feel like that could be a tough market to start out in... but I'll never dismiss an idea or market without first doing my research. (2014 resolution is to minimize the assumptions!)

I have a decade background in market research and management.

I would do more research on the ARV and see if there are any other factors that may affect value.

Would it freak them out or make them stoked..I guess I gotta do more research on tenants expectations.

I have found a 5 unit property where the Seller is willing to carry a 25% 2nd mortgage. (70k purchase price, $2300/month gross income, $1300/month expenses) Initially I thought I could have the Seller 2nd cover my down payment but my research here on BP has taught me that any bank will want at least 10% from my pocket plus closing costs, if I can even get that.