I'm a newbie myself but the main factors are the purchase price and neighborhood rents.

I know that each area is different and it's impossible to isolate one factor.  

HI Tom,I've done plenty of these on the lender end and investor end as well.If you go the FHA route which is the least down payment option you'll only need 3.5% down and will need to adhere to:- min 3 months cash reserves based on the proposed monthly payment- gross rents on all 4 units X 75% factor must be equal or greater than the total monthly payment of the property (PITIA - I found out this not include HOA in this formula as we had a fourplex with a HOA once too).

Oooook, so let's see if we can do that AND hack your FICO score at the same time:Remember that credit utilization ratio is a FICO score factor, and it's recalculated every month or so.

If you have a great deal ,the costs of Hard Money verses losing the deal due to time factors would be the choice.

Don't do it, it's to scary, you don't have enough knowledge, you'll go broke, just settle into your mundane boring 9-5 forever and die with regret, it's the dream!

I've read about using collections agencies as they seem to stay with them forever until then need to open credit and then you can finally get paid. 

The cycle continues forever..2.

If you switched sides in your scenario and were the person lending the money, would you feel comfortable with all factors being considered?

You aren't factoring in property management which would be another $260.