While appraisers do need to include actives/pendings in their report, a sold comparable will carry primary weight.

Keeping the rentals in their current condition (compared to other rentals in similar condition) we can raise rent to a gross monthly rent of $4350.

Watch where rent prices are compared to home sale prices.

The ones I've seen are giving the lowest returns compared to single family.How many units are you looking to buy?

Compare that to the return that you would see if you invested. 

@Clark Kahawaii thanks for posting this.  4-plexes in Dallas are a lot scarcer than other markets and I've got some thoughts on just some things to consider:Comparables - with Multi-Family units in DFW finding comparable properties (comps) can be challenging. 

thanks for the update ......it sounds like the declines from the lenders  are  consistent .......so continuing the  traditional loan angle  right now  isn't  likely  going to prove  successful  ( I could be  wrong )  .....ideas :  1) Go to a private lender and get some type of loan from them  2)  as you mentioned that  one person stated  you would qualify for an " asset  based "  loan - try to  locate a  lender that  has a  program you might be able to  use your assets   as collateral for a new loan

While I was looking at more traditional three or four bedroom SFHs, I came across a FSBO 1 bed/1 bath 450 square foot home, built around 1950, being offered for $45,000. 

Instead, let me give you some highlights to the HomeStyle loan and see if it fits what you are looking for:The down payment is 15% of the After Repair Value of the home.You get your renovation bid, then give it to the appraiser, who the sees the work and bases the value on that.The rate is a little higher than a traditional mortgage but it's about 1/2 the rate of hard money. 

We both work, and she wants her money in traditional investments, and allows me to do my real estate stuff.