I want to stick to the Raleigh-Durham area because I have a friend down in Durham that can be my eyes/ears in the area, and it is an easy flight from Boston.Sorry for the long post, but I wanted to give sufficient context.

Exclusions Because of Prior Conviction In most instances, a record of conviction (as opposed to an arrest) will serve as sufficient evidence to prove that an individual engaged in criminal conduct.

C.I.R. 35 T.C. 90 (1960)).In Private Letter Ruling 8429039 (1984), the IRS stated that a holding period of two years would be a sufficient period of time for the property to be considered held for investment.

As @Hal Thompson warned, be sure you allocate sufficient reserves when calculating expected returns.

B) We could have borrowed a little more but I sized loan so property would be cash flow positive - ie net operating income sufficient to pay debt service with a little cash left over - did not want negative cash flow - wanted property to be “self supporting” ie pay for itself.2.

By their very definition, both sophisticated and accredited investors are deemed have sufficient knowledge and expertise in financial matters to weigh the value and risks of an investment.

If one buys a property correctly - ie proper leverage long term fixed rate debt and has sufficient cash reserves, then one can buy in confidence 7 to 10 years later the purchase will be a good investment. 

You have to make sure that your rehab budget is light enough to fit into the 203k streamline process or you have to pay a HUD consultant to verify that your general contractor's scope of work meets their criteria.The other area that kills these deals for 2-4 units is self sufficiency.

In regards to plumbing and electric: It is my understanding there is already sufficient electric (separate panel) and there are water lines coming in but I believe we would have to connect the drain lines to the sewer.

Sounds like I just need to get moving.I am curious, do you think an initial list of 68 is sufficient?