The same is true for the economy, we are growing but compared to similar cities we are falling behind (if you don’t read the Chung Report, I’d start subscribing to it).   

Is this true?

While it is true we all felt awesome and really smart for buying assets at 40-50% of their intrinsic market value, it is unrealistic to plan for another time like this.

Hey Trevor,If the numbers hold true (which I think you have valid reason to think so) the deal looks good.

Hi @Mike Cangi,How are you and welcome to BP.If I am reading correctly, you are seeking a bank and appraiser in the back end of a cycle of the current real estate market to take a complete income approach and not look at the market approach on a true 4 Unit Multi Family in the  Philadelphia Market.

@Ned Carey Very true.

Thanks Tyler, at this point I have more time then money, the company that wants to school us, wants us to use credit cards to pay them and buy a property. 

Hi I am trying to get a refi through that got a refer on DU, Borrowers score has gone up to 699 from 679 but his 3 tradelines are with same co, at zero bal he has 1 late on tradelinehe is W2 his ratio is about 46% and DTI 80% +.But I cant seem to get a true comp that can lower LTV if the guest house is used and the same goes for the income I am using one from Trulia but it does not include GHthe area goes about $500 per sq ft it would increase the value greatly on that alone

Being a new investor sometimes the numbers look a little too good to be true. 

Secondly, so true.