Finally, I'm assuming this is your first hard money loan, so you'll probably pay 3+ points ($4,500) and fees ($1,500+) and at least a month's worth of interest ($1,500+).  

Finally, if bid's are competitive on properties with no mortgage--is there value in approaching an owner to close immediately prior to sale?

Looking forward to hearing about your next acquisition! 

Don't bother with open houses if you just plan to stand there.As a final comment, your age can be an advantage or disadvantage.

I've c/p'd the gist of the numbers below: Property Specific Inputs Offer Price $ 90,000.00 After Repair Value $ 90,000.00 Rehab/Repair Costs $ 5,000.00 Annual Tax $ 2,315.00 Monthly Insurance $ 100.00  Cash Needed Acquisition Costs $ 26,720.00   Holding Costs $ 692.74   Refinance Costs $ -   Total Cash Needed $ 27,412.74           Rental Income Gross Rental Income 1.94% $ 1,750.00 Operating Cost Assumptions Vacancy Rate 8.0% $ 140.00 Maintenance 9.0% $ 157.50 Capital Expenditures 9.0% $ 157.50 Property Management 10.0% $ 175.00 Total 36.0% $ 630.00 Owner Paid Utilities Electric/Gas ($/month) 8.6% $ 150.00 Water/Sewer ($/month) 11.4% $ 200.00 Trash ($/month) 0.0% $ - Total 20.0% $ 350.00         Cash Flow Calculations   PITI $ 692.74   NOI $ 770.00   Monthly Cash Flow $ 77.26 Net Cash for Deal $ (27,412.74)   Cash on Cash Return 3.38%

I have a Buyer that I am working with to try and finalize my first deal on a commercial property and I have been dealing with the sellers rep.

If you live in Sandy and have a duplex in Midvale its easier than having 2 single family houses in different locations say Cottonwood Heights and West Jordan.The final part I would bring up is Multifamily units will be easier to be used for portfolio loans in the later games because it meets the physical definition of packaged real estate.

Finally we decided to just leave all furniture where it is when people move out. 

Attractive multifamily acquisitions will be captured by buyers who secure assets that are “right priced” to account for rising interest rates."

So when I was back in New York a few weeks later, I decided to go check out the house in person.After looking at the house, I decided that based on my situation, this would have been a very good property to just sell to another investor (wholesale)I immediately knew I was in trouble once I started to market the property out to other investors because I had the it listed way too high and no offers right away.After a few days, I finally found an investor to buy the property and we agreed on a specific price.