@Derek Chiasson  sorry to say but dead give away to a scam.. there Is no such thing as a 1% insurance fee.You must have hazard insurance in place prior to closing... but if they are saying you buying some sort of insurance to protect the lender from default.. then your being scammed.A common one is to buy some phony policy from a company in Thailand they usually try to get 3 to 5k out of their victims for this one.Send me a PM I will help you through it..

What good is going to a credit union to shave an eighth of a point of your rate if the transaction has a 20% of falling apart.I actually turn down working with potential clients if they are insistent on using a bad lender such as Quicken, or a credit union with a bad reputation etc.

If it falls into C class, you might be looking at a 8-9% cap rate.

Looking to connect with other people in Glens Falls who have been successful in real estate investing in this area!

From what I see in listings you might be able to find that in Fall River.

But that is a huge step, and I could risk a lot of money, especially at a young age without much to fall back on.

After all, whatever comes up in that inspection will come up in subsequent inspections should your deal fall through.

So you might want to reevaluate that.Chris please remember the saying  "don't fall in love with the property ...fall in love with the numbers!"  

If a borrower defaults they want to be able to seize the property as quick as possible and laws regarding personal home ownership make that more difficult.Why does this property not fall within the guidelines, needs repairs, or??

When it goes bust in a down turn there is an over supply and rents fall and vacancies increase.