I am not sure where I heard that or if it's correct but figured it might be an issue if it is. 

And thanks to anyone that takes time to read this and reply! 

We did have it measured by a professional before it was purchased as we had a feeling the square footage wasn't reflecting correctly in the tax records and both of the other two appraisals reflect that.

Thank you s much for the replies. 

@Marlon Fong thank you for your quick reply!

Once the economy goes into “correction” mode lending and terms may not do so good ...so make hay while the sun shines and take action .

When I see a cap rate that high, I tend to be suspicious that it wasn't calculated correctly.

Thanks for the reply all the way from Michigan I love it!!

If you don't have an interest in the property and market it, you are acting as an agent without a license.Someone, please correct me if I am wrong but I have asked the same question as above and this was what my research produced.

I read your replies earlier but was away from my computer!