If this is industry practice, then it appears that a C-Corp is not able to leverage real property investments (assets) for additional investments.

Can you use city maps or other records?

I am looking to possibly expand to the Southwest Hilltop area as it seems to be kept up well and the houses appear to be in good shape.  

Hopefully soon I will be able to close on this and get a great deal while using financing (I'd love to use all cash but just starting out that isn't an option).Here is the question, it appears they were expecting only cash offers for this property, but they are willing to move forward with me using a loan.  

If you haven't been charging a monthly fee as well that might be something to look at with next tenant but raising rent and adding another fee is likely to send your tenants packing...based on you saying "yay" it appears that's not what you want :)

Do some more reading about deals with family members that are posted here, especially deals where one party is lousy with money like your brother appears to be.

I ask because it doesn't appear many rental properties are available.

The rest of them really do just appear if you're connecting with others more experienced than you and asking the right questions.Thanks for all the kind words guys and girls. :)

Total Expenses: $8,734NOI: $17,380Vacancy Rate: 6% (agent said to use 10% to be safe for this market)My calculationsIncome: $26,352 (@ $549/unit)Expense: $15,811.20NOI: $10,540Comparable properties in the area rent for $500-800 in the area, water and/or other utilities seem to be included in some combination in most other rentals locally.And I looked up the assessment/tax info again (appears to be listed per unit with county)Assessed value: $32,147 per unit x 4 = $128,588 totalNet tax: $642 x4 units $2568We are seeing the properties today so I'm hoping to verify some of the actual numbers.

I put a we buy houses fast.... ad in the local paper and after appearing a week ago I've been getting about a call a day.