It was affordable with the money I had available.

Also they may limit your ability to obtain better rate mortgage as you may only have commercial rates available.

@Kevin Means while both FHA and Fannie HomeStyle renovation loans are available for MF it’s only on owner occupied, but Fannie has the renovation loan available for investment properties, 1 unit, only 15% Downpayment, keep it in mind for future projects 

I recently watched the "beginners" webinars and there was a goal setting/strategy development template available for download.  

Okay enough prologue, here's the deal:3003 Finley St, Fort Worth, TX, 76111 (United Riverside)4 bed, 2 bath, 1570sf, built 1951Asking $84,900Estimating $25,000 in repairs (roof is 2 years old) needs: vinyl floors, new countertops, appliances, HVAC, possibly re-wiring, trim/doors, and paint.Estimated ARV: $150,000 (I base this on 3 bed 2 bath comps ~1350sf only a few blocks away selling for $159k to $185k, roughly $100/sf to me seemed like a conservative estimate)Estimated rent $1400/month (I based this on Fair Market Rent chart for 76111 from section 8 housing which lists 3 bed at $1350 and 4 bed at $1720, plus several 3 bed 2 bath rentals currently available a few blocks away at $1350/month)Running BRRR numbers with $80k cash purchase, $25k rehab, refinance at $105k, %10 capex/repairs, 10% vacancy, 10% management fees led to a monthly net cash flow of about $200.Is there something I am missing about this deal that I need to account for?

You suspended loss will be available to offset your gain.

So what we did was we bought into it for my wife only and then we watched what it was that they did to increase her credit availability.

I wanted to buy but credit wasn't available. 

Don't ignore this fantastic resource available to you. 

I will be working Midtown area and was interested in seeing what is available in the vicinity (Wynwood/Allapattah) for 200-350K.