If you set higher prices and rent fewer nights but make the same amount of money, you actually come out ahead.

How many investors that didn't take time to learn from a solid mentor, that haven't taken advantage of the tools here on BP are going to get themselves into trouble buying over priced real estate?!

There are NO cap rate comps on a SFH lol, this is basic stuff my man.I understand you are a moderator but you have some responsibility to not spread dangerous information and advice such as higher cap rate is better, and everyone should jump at a 22% cap rate property !!!!

Smaller banks tend to have fewer clients so may be willing to offer more competitive rates/%down requirements to gain your business.

The danger in multifamily is most investors believe even without experience they can still make money with it easily with little downside risk and that's simply not the case.   

The $85k is a little high - I've purchased 3 duplexes that size or larger in Bedford, with comparable or fewer repairs, for about $75k each - but not a horrible deal at all.

"They can't evict me, because the CDC says it's a danger to public health!"

Very powerful, can be a bit dangerous.  

@Jeremy Mortimore I would definitely not assume it will automatically be approved for conversion back to a 2-family.As a general rule, cities and towns are happy to change the use down (fewer legal units), but to go up the property has to conform to current zoning requirements or you need to get an approved variance (which might not be easy, especially if any of the neighbors object).What may have happened is that before, when the property was a 2-family, it didn't meet the current zoning requirements but was "grandfathered in" as a legal non-conforming use.

I keep hearing that it's a dangerous game and that you need thousands of dollars before getting a loan from a hard money lender.How much money should I have saved?