While you are analyzing 4-Plexes in the Springs, I would raise your utilities calculation to $300-400 to be conservative.

~ How are payments on the balance calculated? 

The sub-market also has a strong demand from international buyers for short-term rental and vacation home.I’m using the BP calculators to analyze the fix & flip and rental strategies.

https://www.biggerpockets.com/calculators/shared/4...Hey BP community, just to give you a run down I'm looking to buy this property. the owner is currently putting a new roof on the 4plex. right now the rent is $600 for 2/1.

I've found a couple of properties and after calculating the numbers one in particular would be a great investment.

There may be some ways working with your accountant to use this to still create a partial 1031 and have partners end up at the end of the day with the taxable cash or tax deferred property that they wish.  

@Matt Morgan:It seems to me the hedge funds are executing a calculated investment strategy.

There are a couple of issues to consider here:The income you received from your tenant is taxable and needs to be filed using Form 1040What was the price you paid for the house vs. what you sold it forHow long did you live in the houseDid you make any capital improvements to the houseGood luck!

I did come across the following deal: Property: Victorian 4-Family (8 Bed, 4 Bath) (2Bed, 1 Bath per unit)Ask: $850,000Location: Weehawken, NJRent: ~$2,000 per unitAdditional income: $1,000/year - coin laundryExpenses:- Mortgage/Taxes/PMI/Insurance: $5,397*Note: I plan to do a 5% down FHA (possibly 203K depending on condition)Utilities: $250Vacancy: 7%CapEx: 10%Maintenance: 5%Zillow LinkAfter using the BP calculator - It appears that I will be paying ~$850 per month (assuming I purchase full ask).

@Ben Ballinger - typically I'll show the seller my calculations (income approach, sales comparison, cost and final value reconciliation) and reiterate the previous discussion that I'm an investor and if the numbers don't work, its nothing personal.Working with a realtor/agent can make this conversation more difficult, in my opinion.