But rents are extremely high and vacancies are rare.

I'm worried since this is my first purchase that without an inspection I will be missing something BIG but don't want to lose this deal because a 4 bd per unit is a rare find.

They didn't say anything else.Technically, they can take you to court for an unconscionable increase but this rarely happens and I made sure I covered by bases legally by  not going outrageous and also noting the things that needed to be fixed.

@Sean Dolan - profiting 40k on a deal would be awesome but those are rare (at least for us).

What I see in the analysis is after 4 years of renting if I decide to sell, then the profit from the single property purchased with full cash down VS the combined profit from the 3 leveraged properties is quite similar.

And it turned out that for rental HELOC, WF requires 60% LTV, 38% DTI, 12 month of reserve (on all my rentals combined)....

Hey Blake,Just mailed out our first run of 2,500 last Friday to absentee owners...using yellow postcards.8 calls so far...1 remove from list...1 already sold...1 is a commercial building.The other 5 are a combination of tire-kickers/what can you offer?

Are you saying you use 8 percent of monthly rent for CapEx, Maintenance and vacancy combined or 8 percent each?  

C and B- neighborhoods seem to have a good combination of lower home prices, but still high rents.  

That's actually one of the rare circumstances where you CAN have multiple FHA loans at once.