Here are the financial figures for it: Asking price: 54K mortgage payment: 355 monthly rent would be 650 annual taxes: 385, ins 400 I'm thinking of just renting it out.

In southern California, typical hard/private money terms will result in roughly a 17%-20% annual return, depending upon how fast you get paid back.

I will agree that missing the matching is free money and it would be a shame to miss it; however, a good note investor could earn 10%+ annually.

Is it worth the risk of no appreciation or huge unforeseen capex expenses for a forecasted 9% annual return?

We also have an annual Yard Sale that is also a huge event --- residents know that on those 2 occasions (Yard Sale and Festival of Lights) you just hunker up at home because it's hard to get OUT lol due to all the cars.Our school system is wonderful; known for their sports (Heritage Hills) and the elementary schools do so much for the kids ... you don't have that everywhere and as a parent I am just grateful to give that to my children.

Here is why:$1,300,000 Purchase Price$300,000 Assignment Fee$260,000 Anticipated Stabilization Costs$1,860,000 Total Costs$360,000 Annual Rents on NNN$54,000 Annual Expenses$306,000 Net Operating Income$120,000 Annual Debt Service$186,000 Annual CashflowIf we value the property at a 9 cap (conservative) puts the estimated resale value at $3.4mm for an equity capture of approximately $1.5mm in just a short 12-18 months.

Additionally, the upfront annual MIP fee of $14K that is being rolled into the loan bringing the total loan amount from $814K to $828.5K, is not listed on the bottom line item.If this $14K fee is being financed, shouldn't it be listed on the second line item "Closing Costs Financed (Paid from your Loan Amount)?

He bought for 40, put 50 into it, taxes are 2k annually, and it rents for $1300/ month.

We got a conventional 30 year fixed, $522,750 loan - paying around $3610 total (includes $14k annual NY property taxes)  My intention was to lower my monthlies & now realized i could have used that money for a deal!! 

Assuming I cannot pull the cash back out then my annual cash on cash return on that 4500 is still 26% (assuming I self manage).