A bird in the hand is worth two in the bush.  

On the other hand, the education you might gain may be worth doing it. 

As for the people that say don't do it, I'm pretty sure they think he will be doing it by hand, and not using a licensed plumber.

Sometimes this alignment can be fixed with a simple conversation with a very good attorney and the city's attorney.The real question is will it be worth the expense and potential discrimination that could follow from the city - I have heard stories where the city will have their inspectors get very rigid when they do not get what they want to make the owner's life more difficult. 

When the cost of money rise (higher interest rates) cap rates increase. its simple investment fundamentals.  

Welcome to the game Aaron.You're in a great market that is sure on its way up.Since you're on the ground you'll have the upper hand compared to all of the out of state guys. 

Your seller isn't motivated, plain and simple.

I know that is simple but true.You could use a HELOC and use the cheaper money for multi-family property that flows more than enough to pay the heloc.

We will gladly take these houses off their hands and hopefully relieve them of this added stress. 

I'm about to finish my 3rd required course and apply to take my exam but wanted to start exploring brokerages and getting a feel for the industry first hand.