From the living side of that equation, you would only need to live there for a year to satisfy the lender Requirements on the purchase of an MFR. 

It is the same as not factoring in your down payment, just the loan amount when you run a ROI equation on a rental property.

Correct, but credit is only a part of the lender's equation and ultimately, it will affect DTI. 

It was simply to provide a perspective from the valuation side of the equation, since that was on topic.

Does the bank pay the Note Holder that minimum bid amount and now the Note Holder is out of the equation?

Because I know that you can simply convert currency but I know it's more than that because house prices don't directly equate because house markets are so much different I've heard, do you know if this is true?

I can't get my accounting equation assets = liabilities + equity to balance.

Oakland has no land left to accommodate this. or its infill tear down.So as it equates to each other PDX has far more developable land.In the present cycle I think PDX may have in certain areas a better chance of upward movement. however the bay area is the bay area.. and you can never discount. the overwhelming base of high tech and other industries that dwarfs PDX

I just bought my first rental property in September, and when looking to get a pre-approval on my next property, was met with the news that  I could only invest in something up to $45K or a unit that already had tenants due to their debt to income rules (I also have a mortgage on my primary residence they are including in the equation). 

., it doesn't matter what the list price is, the only time that comes into the equation is figuring out the likelihood that your offer will be accepted.