I am not sure how MB would compare to downtown. 

They see what appears to be a long shot, high reward opportunity and they chase it even though it is not part of their trading plan.

Investors are jumping in and snapping them up fast because compared to most other large cities the prices are very good.  

At this point my partner's equity would get a little smaller each month compared to mine as I put all my profits towards the faster pay down but they would still be making enough to live comfortably until the 1st property was completely payed off in year 10 and cash flow increased from ~$120k to ~$228k.

The HA will then determine if they can pay your rent based on it being reasonible compared to other comparible non-sec 8 rentals and affordable for this particular voucher holder.  

Account ClosedIncome taxes are normally not calculated in cash-on-cash return calculations because everyone's tax situation is different.For sake of comparison - the cash-on-cash return should be comparable on a level playing field.Person A - $100 return on a $1000 investment.

A in-law suite is not a legal rental so the appraisals are not comparable.

Lenders have different lending terms and conditions compared to their competition.

This isn't bad compared to a lot of schools, but was still more than we wanted to pay. 

Help others continually and in time you'll be rewarded.