Unless there's some extenuating circumstances, in the current market we live in, I just think you could find equally good sub2 deals out there that would require you to put up considerably less upfront.The way this deal is structured doesn't seem to make a whole lot of sense.

I am assuming all other things equal.

These biweekly things work by paying 26 bi-weekly payments each equal to half you monthly payment.

Even in states with no redemption there is delays with the process of taking back possession of property as equity is really equality or fairness and the courts allow reasonable time which varies from state to state to grant the "fairness" part of the equation.

Using the 70% rule equals $157,500.

This requires more than just putting it on the MLS and calling it a day.. otherwise all agents would be equally successful.

A contract is important but what is equally important are things like; is the prospective tenant employed?

Another issue you are going to run into is the the property is hard to finance. 6 units equals a commercial mortgage so your loan constant is going to be higher than it would be with 4 units.

Tenants were in place when I purchased the property and I did receive the tenants security deposit equal to once months rent from previous owner.

Jon: I totaly agree...especially when they are vital to our cashflow!