@Kirsten Ostbyit's amazing to hear about you guys being outbid for multiple places.  

It could cashflow if I added a bedroom in the basement.I'm a fairly conservative investor: a minimum of 20% COC, 2% rule, with a good buy and/or multiple exit strategies.I actually discovered BiggerPockets because I ran into issues purchasing my first two condos - I could not get the bank to finance the second condo because there was too many rentals within he complex. 1) Condo (1/1) - purchased w/ 5% down as an owner occupied property (one of my best properties)2) Condo (2/2) - got denied so I got creative and used the checks that credit cards sent you (25k) from three different cards, begged friends, and had about 15k in my bank.

There are usually multiple offers and bidding wars are common.

There is always the chance that someone else can come in higher if they were receiving multiple offers.

Your friends money would be better spent on multiple projects than tied into this one in my opinion.

My wife and I just purchased what we see as our "forever home" (5.5 acres in town at the back of a quiet cul-de-sac) and we're moving to that property in roughly 75-90 days. We have owned our current home since 04/200...

I do have a list of criteria that I told her about up front and I know I have read on here multiple times that credit score isn't everything.

While recent disruptions in the capital markets have increased the cost of capital for investors in some areas, notably CMBS, inexpensive capital is still widely available across multiple platforms.

I’m interested in building networks of Entrepreneurs, Fund Managers, Investors, Real Estate professional and other professional networks.I’m an entrepreneur, running family businesses, managed multiple investments, and currently developing a prime investment project portfolio.

I kicked the price up about $40 a month, and still had multiple qualified applicants.