Agency debt is also not going to be possible under $1M (as pointed out by @Mark Allen).Best bet: Either find additional capital partners, tap into bridge loans for short-term financing (while you sort out your liquidity position) or pass on this deal. 

Additionally, similar to what @Omar Khan was saying, you typically see a larger return as a percentage of the purchase price in lower income areas.

I found a great real estate agent through a BP meetup that works almost exclusively with investors and is very familiar with rental properties.

I would plan to pay for majority of upgrades with a line of credit.I have a few additional reasons beyond monthly cash savings to sub-meter the electric: 1) There is one thermostat in the house, controlled only by tenants in the largest unit.

Person C gets approved for the loan, but only up to 80% of the appraised value of the house, which comes back at $5k less than Bobs original asking price, which means Person C now has to come up with an additional $20k to close the deal.

Why are you paying $300 in additional brokerage?

Any additional advice on how to proceed would be much appreciated. 

If you have an area in mind I can ask my rep to add it to the list and I would be more than willing to share it with you guys.

.- With house price appreciation, I can buy additional 3 more properties in year 10.- Total Income: Seattle property 2500 + CT rental properties 7*1100=7700 = 10200 - Result = 3.35 million Asset + 10,200 Monthly passive incomePlan C = Plan A + BRRRR:- Buy one Multi Family house a year using BRRRR Strategy. ($250,000)- Repeat this process 10 times in 10 years, then I could have 10 houses in 10 years.- The advantage of this strategy is that I can use my $250,000 LOC over and over.- The disadvantage of this strategy not able to find appropriate deal or not able to refinance.

Only one additional point:  if you make exception for this tenant's request, you can open yourself to all sorts of possible discrimination claims from other tenants."