When I run the numbers based on the above assumptions, I get these results. 

It might be a false assumption for the house.

My response is only under the assumption a foreclosure sale is completed:Contrary to some opinions, typically, up until the foreclosure sale (If there is one), the bank knows nothing about tenants.

Your goals and story: To purchase either a SF or MF home to House HackType of property: SF or MFLocation of property: Wilmington, NCPurpose of financing: purchaseType of financing sought: Not sure, Fannie/Freddie, private, seller-carried, subject-to, loan assumption, commercial, FHA, VA, USDA.Current or prior ownership of real estate: Have not owned any real estate ever.

In any case, you have to qualify for the loan assumption just like for a new loan.

I know CoCR is more or less moot for NYC, but IRR takes into account appreciation as well...and at my current (albeit conservative) assumptions, I'm only getting 7-8%.

Our eye isn't on the RIGHT ball, our eye is on the LAST ball, with the incorrect assumption that "history repeats itself."

Purchase price: $136,000 Cash invested: $44,000 I was able to assume this loan through an assumption loan.

Back to your leads, given you are virtual and assuming you will be making some assumptions on repair, once you have an agreement with a seller do the following 1.

@Linda Wright - Quick re-visit to the topic of property value - my initial assumption that the property value might have a relatively sluggish growth rate was based on a recommendation from an older colleague...but I realized I have no data to back up the claim.